The following statement is an excerpt found on the White House Press Secretary's web page posted on August 31, 2008.
President George Bush stated, "We've got a role, the government has got a role to play -- but it is limited. A federal bailout of lenders would only encourage a recurrence of the problem. It's not the government's job to bail out speculators, or those who made the decision to buy a home they knew they could never afford. Yet there are many American homeowners who could get through this difficult time with a little flexibility from their lenders, or a little help from their government. So I strongly urge lenders to work with homeowners to adjust their mortgages. I believe lenders have a responsibility to help these good people to renegotiate so they can stay in their home. And today I'm going to outline a variety of steps at the federal level to help American families keep their homes"
Surely, we have missed something, because the President feels strongly, based on this statement, that a federal bailout of lenders would only encourage a recurrence of the problem we face today. This is the exact position that Real Estate News has been supporting since 2006. Ron Paul supports this idea along with 227 other Congressman/women from around the country. So, if everyone believes this bail out is so toxic itself, then why is the Treasury department be such a staunch supporter of the idea?
We judge them by their actions, right? Congressman from across the political spectrum have voted the original Wall Street bailout bill into oblivion based on the basic assumption that the bill is, in essence, nothing more than legal plunder. The stock market reacted with a plunging 777 point decline. The Paulson - Bernanke plan would effect a significant pound of forced plunder upon the backs of every working man's or woman's individual liberty by the transfer of wealth from the taxpayer to the appropriate Wall Street financial firms. History teaches us to form opinions based on actions and not words. So, simply disregard what you read above about the Presidents comments on August 31, 2008. Just look at the actions being undertaken and one will understand the exact direction intended to be pursued.
President George Bush stated, "We've got a role, the government has got a role to play -- but it is limited. A federal bailout of lenders would only encourage a recurrence of the problem. It's not the government's job to bail out speculators, or those who made the decision to buy a home they knew they could never afford. Yet there are many American homeowners who could get through this difficult time with a little flexibility from their lenders, or a little help from their government. So I strongly urge lenders to work with homeowners to adjust their mortgages. I believe lenders have a responsibility to help these good people to renegotiate so they can stay in their home. And today I'm going to outline a variety of steps at the federal level to help American families keep their homes"
Surely, we have missed something, because the President feels strongly, based on this statement, that a federal bailout of lenders would only encourage a recurrence of the problem we face today. This is the exact position that Real Estate News has been supporting since 2006. Ron Paul supports this idea along with 227 other Congressman/women from around the country. So, if everyone believes this bail out is so toxic itself, then why is the Treasury department be such a staunch supporter of the idea?
We judge them by their actions, right? Congressman from across the political spectrum have voted the original Wall Street bailout bill into oblivion based on the basic assumption that the bill is, in essence, nothing more than legal plunder. The stock market reacted with a plunging 777 point decline. The Paulson - Bernanke plan would effect a significant pound of forced plunder upon the backs of every working man's or woman's individual liberty by the transfer of wealth from the taxpayer to the appropriate Wall Street financial firms. History teaches us to form opinions based on actions and not words. So, simply disregard what you read above about the Presidents comments on August 31, 2008. Just look at the actions being undertaken and one will understand the exact direction intended to be pursued.
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