When Geithner sold his plan to give away trillions to the big banks, he also promised that the administration would offer help to the many thousands of homeowners who are under water. That plan was called HOPE for homeowners.
How many people has HOPE helped? Right now, the number is holding steady at...er...um...one. One as in 1 as in uno as in the loneliest number as in the number of penises per male as in the number of actually-existing deities recognised by a guy named Abraham as in the number of admirers Obama will have in 2012 if this shit keeps up.
Obama has signed a reworked version of HOPE. He says he HOPEs to do better.
5 comments:
"The Candy Man Can Because He mixes it with HOPE and makes the world feel good!
http://www.youtube.com/watch?v=zhhkF3dqXR0
Wonder if the Obots actually hum this song...
Well, "one" is infinitely better than I expect The One to do. I note that his solution involves giving the banks more money. That's certainly a big surprise, isn't it?
I can personally attest that taking care of my dying father and my elderly mother resulted in my income dropping very low.
Irrespective of existing savings and over 70% home equity, I can't get a loan from the big banks. I literally need a loan for LESS than the value of what already exists in equity and savings, and I am not eligible because I took the last two years to care for my parents.
Asking for a loan for LESS than the amount of home equity that already has accrued, plus savings, means the banks really can't lose money granting me a loan. I have the COLLATERAL to cover EVERY DOLLAR OF THE LOAN.
But why focus on a sap like me who loved his elderly parents and took them everywhere and stayed with them overnight every night they were in the hospital when the banks can just wait me out and take everything for a lot less, afterall, that is how bank profits are actually made.
In the free market when one person "loses" their home some other person "finds" a good bargain.
And if that "other person" is a wealthy Obama donor that's just the circle of life.
Obama's nickname should be smoke, as in hope and change seems to have gone up in smoke.
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