Schumer calls for subprime bailout

[William J. Decker]

Originally Posted by jburkeson1

Why is it that you think it is correct to pit one stupid idea against another stupid idea? Did two wrongs ever make one right? Sheese!

It is merely Mr. Shumer's attempt to try to stave off economic Darwinism. He (and the Dems) need the economically stupid (to stupid to survive) in order to get re-elected.

[Joseph Burkeson, CMI]

Mortgage Bondholders May Bear Subprime Loan Risk

April 10 (Bloomberg) -- The top Democrat and Republican on the House Financial Services Committee said investors in mortgage bonds should be liable for deceptive loans made by banks.

Democratic Chairman Barney Frank of Massachusetts and Spencer Bachus of Alabama, the committee's highest-ranking Republican, said such legislation would discourage lenders from extending loans to people with poor credit histories by making it more difficult and expensive for the banks to sell the mortgages.

TRANSLATION:
Gov't says your pension should eat loses on subprime loans!

sIMPLE mATH - More homedebtors who vote than bond debtors who vote.