[From article]
"mostly-hidden government program called HARP to accomplish these restructurings. HARP stands for the Home Affordable Refinance Program.
[. . .]
But where, exactly, are the banks getting the money they are earning in these refinancings?
One bank that’s prominent in the home refinancing business says its fees are being paid by the government. Fannie Mae, to be exact.
[. . .]
Do I care that banks have found a way to make money? Or that homeowners are getting a nice deal from the government? Or that Fannie Mae, in its delicate situation, is giving away revenue to banks that have already been bailed out?
Sure, I care about all those things.
But I mostly care that nobody in Washington seems to know what the guy down the street is doing."
http://www.nypost.com/p/news/business/washington_new_refinancing_plan_twq08UakjAQwZraBwmdxXO
Washington’s new refinancing plan is actually old
John Crudele
New York Post
Last Updated: 1:16 AM, August 30, 2011
Posted: 11:34 PM, August 29, 2011
Showing posts with label Bank Bailout. Show all posts
Showing posts with label Bank Bailout. Show all posts
August 31, 2011
August 2, 2010
The Greek Economy and Financial Bailout
The Greeks!
There is no way the Greeks will be able to control their economy and meet the terms of the bailout by the EEC and the IMF. They can't even enforce the No Smoking regulations !
The new law bans smoking in eateries since 7/1/09.
Look how many cigarettes are in the ashtray in this restaurant ...
Hey!
Look in the ashtray, the ashtray, the ashtray! Jeez...you're worse than the Greeks !
There is no way the Greeks will be able to control their economy and meet the terms of the bailout by the EEC and the IMF. They can't even enforce the No Smoking regulations !
The new law bans smoking in eateries since 7/1/09.
Look how many cigarettes are in the ashtray in this restaurant ...
Hey!
Look in the ashtray, the ashtray, the ashtray! Jeez...you're worse than the Greeks !
January 23, 2009
Barney Frank Leads the Way
Barney Frank Leads the Way
"It's totally arbitrary," says South Carolina Gov. Mark Sanford. "If you've got the right lobbyist and the right representative connected to Washington or the right ties to Washington, you get the golden tap on the shoulder," says Gov. Sanford, a Republican.”
“Mr. [Barney] Frank, by his own account, wrote into the TARP bill a provision specifically aimed at helping this particular home-state bank. And later, he acknowledges, he spoke to regulators urging that OneUnited be considered for a cash injection.”
This is the argument against the massive government bailout. In a system where everything is for sale how can anyone expect less corruption? These are venal politicians giving away money. Do you think they will give it away on a rational basis or to promote their own careers? This has the potential for extensive corruption with journalists paying little attention. Instead they continue swooning over the first African American president. Hello he is a politician and worse a Harvard lawyer politician. Wake up and pay attention before this One repeals the First Amendment.
http://online.wsj.com/article/SB123258284337504295.html
JANUARY 22, 2009, 2:45 P.M. ET
Political Interference Seen in Bank Bailout Decisions
By DAMIAN PALETTA and DAVID ENRICH
Wall Street Journal Online
"It's totally arbitrary," says South Carolina Gov. Mark Sanford. "If you've got the right lobbyist and the right representative connected to Washington or the right ties to Washington, you get the golden tap on the shoulder," says Gov. Sanford, a Republican.”
“Mr. [Barney] Frank, by his own account, wrote into the TARP bill a provision specifically aimed at helping this particular home-state bank. And later, he acknowledges, he spoke to regulators urging that OneUnited be considered for a cash injection.”
This is the argument against the massive government bailout. In a system where everything is for sale how can anyone expect less corruption? These are venal politicians giving away money. Do you think they will give it away on a rational basis or to promote their own careers? This has the potential for extensive corruption with journalists paying little attention. Instead they continue swooning over the first African American president. Hello he is a politician and worse a Harvard lawyer politician. Wake up and pay attention before this One repeals the First Amendment.
http://online.wsj.com/article/SB123258284337504295.html
JANUARY 22, 2009, 2:45 P.M. ET
Political Interference Seen in Bank Bailout Decisions
By DAMIAN PALETTA and DAVID ENRICH
Wall Street Journal Online
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