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Paulson ‘Supports’ FDIC Foreclosure-Prevention Plan
- Text size
Matthew Cover
CNSNews
November 19, 2008
Treasury Secretary Henry Paulson supports the idea of a foreclosure-prevention plan that could put the government on the hook for 50 percent of a mortgage-servicing company’s loss should it renegotiate a bad mortgage — and the renegotiation fails.
- A d v e r t i s e m e n t
But he doesn’t want to use TARP (Toxic Asset Relief Program) money – the $700 billion bailout money Congress approved before the election – to pay for it.
On Tuesday, Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair told members of the House Financial Services Committee that $24 billion of the bailout funds should be used to prevent families from losing their homes from foreclosure. She warned that it is “essential” for the Treasury Department to offer loan guarantees and credit to help keep people in their homes.
Bair’s plan, however, is that Treasury take over a loss-sharing “foreclosure-prevention plan” already in place at FDIC – one that commits the federal government to pay for 50 percent of a bank’s losses if it renegotiates a customer’s mortgage – and the customer defaults again.
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November 19th, 2008 at 2:53 pm
does this require forfeiture of the 1st born male to qualify
November 19th, 2008 at 3:02 pm
When are we gonna see the return of LYNCH MOBS?? They are so needed at this time.
November 19th, 2008 at 3:14 pm
THESE ”2” ARE THE DEVIL……………………………………….
November 19th, 2008 at 3:35 pm
“Yes” we support the idea of FDIC stepping in and doing what we said they could not do before we got the bailout money.
That is exactly why we called them and asked them to now do it to cover the money we secretly spent on covert operations to prop up our wonderful free economy.
I am not sure what the bailout money is exactly being spent on but I assure you we are working hard to solve the problem.
Did I tell you we are understaffed and overworked??
So, get of my ass about your damn money!!!!
I have it, it is safe with me!!!
November 19th, 2008 at 4:00 pm
if they keep pushing the people-there will be no federal reserve bank in the next decade-and there will be no criminal bankers-they are now on the exstinction list-like the dinosors
November 19th, 2008 at 4:14 pm
Are you living pay cheque to pay cheque?
Knowledge is Power – Financial Secrets Revealed!…Curious?
Protect your Assets your Income your Freedom before it’s too late!
Credit Crunch Cure – Liberty Wealth Club!
http://www.becomericher.info
November 19th, 2008 at 4:31 pm
Are you going to participate the “End The Fed ” events taking place at all 12 federal reserve branches on sat nov 22nd remembering the assasanation of JFK for signing EO 11110 ” to abolish the federal reserve system ” and restore to the Congress the issuing of the debt free, interest free currency as mandated by Law in Article 1 sec. 8,9,&10 of the Constitution. will you help with this on Sat. 11-22-08 ???
November 19th, 2008 at 4:45 pm
The closest concerning problem we have at this point are the TENS of MILLIONS of dollars worth of Vehicles sitting at the Long Beach CA Pier! Read this:
http://www.thecomingdepression.blogspot.com
November 19th, 2008 at 4:51 pm
Didn’t these thieves just tell congress,” we need this money (700 BILLION) right now to buy back the bad mortages ” then turn around and say , well were not giong to use this money for what we told you we would use it for, but it’s ok, as the stock market falls yet again, these f---ers need to be hanged along with the rest if their cohorts.HOW MUCH OF THIS BS ARE WE SUPPOSED TO TAKE?
November 19th, 2008 at 11:11 pm
WHat has the FDIC been doing with all the money paid to them in the form of “insurance”. They are in the business to PREVENT foreclosure.. Not to BENEFIT from it. Another heist is about to take place. Let it happen.. sooner or later the productive citizens will not be able to pay taxes and the GVT’s actions will cut into social programs. THEN the welfare people will get mad fast when threatened with the idea of having to support themselves.
November 20th, 2008 at 1:14 am
Okay, put it this way. Give those that need help paying their mortgages some money. But give me the same amount of money even though I can pay my mortgage on my little house that I bought choosing wisely the amount of loan and the type of loan. I will then spend this money that I don’t need on things that will keep the U.S. economy rolling along. Hey, I might even invest some of it in a start up alternative energy company or maybe an electric or hydrogen vehicle company.
November 20th, 2008 at 8:01 am
number 11.. Pooh Bear- If it was allowed to work like that.. it would be a fine world. I suspect everywhere that the failure of things is needed by way of the numbers, because the success of people is unpredictable or even foolish for those in power, as someone who speculates more about the psycholocial nature of those in power and the desire of those in power to work on a “numbers only” model of how things are.. it is more PREDICTABLE to assess how people will react in “failure” mode than in “success” mode.
Another thing people seem to miss the point about allot of these other situations are not just the dumbing down of people.. but the fact that they KNOW what is bad for people and constantly say what is bad for people.. but invest in those thing that ARE in fact bad for people.. so there is the always failure of health, failure of weath and failure for happiness in a majority of the people..
Because its easy to manipulate a large population for certain failure.. its easier to predict these as numbers.. no matter which condition of the situation they happen to be in.. its almost as though this is just one partical of the idea of how to reduce a world population into a numbers only senario.. wether it be notes from a bank, or statistics on a chart..
dream about the possiblity Pooh Bear about everyone being able to “succeed” such as this, and see where this would be intimidating to those in power. Remeber, they killed the electric car (threat of competition to the once pet project Ford, and OIL) now who knows what feathers just investing in the resources they see as their own in something that threatens their foothold in their illusion of power?
November 20th, 2008 at 12:57 pm
Let them all fail. The banks, the auto industry, the people who made bad choices when it came to mortgages, and whomever comes along next. Today’s failures will spawn future successes. Let the whole damn economic system collapse and out of the ashes we will build a better stronger system.
Snooky
November 20th, 2008 at 4:03 pm
It would appear that the FEd and Treasury Sec Paulson are doing everything they can to cause this nation to either submit to their demands or initiate a cause for a disturbance of national proportions. They operate with no logical thought process to a reasobale and responsible person of character.
Let them keep going.. they have shown their interest.. which is themselves.. and they claim they are doing what they are…”For the good of the nation”.. Well.. time will tell…
And if my hunch is right.. I hope they are hunted down like the Isrealies did the German war criminals…
It would be funny watching them answer up when for once they are held accountable for their actions. It would be a welcome change.
November 20th, 2008 at 6:16 pm
snooky, I do believe what you say is right! But bere are some problems, it’s called the defence of or country, If all fails the country will get so confused, We need a people see that the congress is selling us out, And then we can come to a great Revolt, It’s at hand right now!
so lets kick out the congress and replace them, The CONSTITUTION says we can!
when congress is not for the people, replace them!!!!!!!!!!!!!!!!!!!!!
start now
November 20th, 2008 at 7:19 pm
Wow, paulson wants to do something good? There must be a hidden agenda. Oh well, I hope they do stop the forclosures: My parents could possibly lose their home because it is tied to their small business which is doing poorly due to the economy.
November 20th, 2008 at 9:19 pm
How much more is the American sheeples gonna take? We need to throw all these people in jail; for our OWN SECURITY!!! Thieves, nothing but thieves…….I fear it is already too late.
November 21st, 2008 at 11:52 am
All Paulson is doing is side tracking us from the major problem!! They have stolen 2 trillion dollars in tax payer money and they don’t want disclosure!! As they have divided it up with their friends and the other International Bankers!! As they have made Americas Auto Industry beg for crumbs to keep millions of American workers from going poor and broke and destitute!! OUR CONGRESS SHOULD BE ASHAMED OF THEMSELVES FOR ALLOWING THEM TO DO IT!! As these hypocritical beast are threatening our legitimate AUTO INDUSTRY WHICH EMPLOYS MILLIONS!! SHAME ON AMERICA AND SHAME ON OUR HYPOCRITICAL CONGRESS!! AND THE NEW WORLD ANTICHRIST ORDER WILL BE EXPOSED ON THE GREAT JUDGEMENT DAY where they will not be able to defend themselves with their lies and treacheries!! COME ALL THE WAY TO JESUS ALEX AND PREACH HIS WONDERFUL TRUTH!! For you are indeed a man of truth!! I have been listening to you for 2 years now!! AND NOW IT IS TIME FOR YOU TO COME ALL THE WAY TO THE ONE WHO LOVES YOU THE MOST!!
November 22nd, 2008 at 4:30 am
These forclosures were al a big set up by them .We need http://www.nesara.us announced now.
I may lose my home soon.i lost my job back in may.and I couldn’t get my unemployeement.I was a whistle blower because my former boss was cheating alot of his workers out of their pay with his credit card type time clock.I have no healthcare and have a very large fibroid tumor in the left side of my stomach.It needs to be removed.i am 51 years old and i would feel better with out it.It is bearing down on my knees and feet.I tried to sign up for SSi and med.I was sent to a sssi dr and he said did look like it could be a large fibroid tumor.lets see they are doing things to cause these tumors to grown in women and now they don’t want to help us get them out.Alot of us out here don’t have healthcare.And they want you to beg for the Si to get help.
I would only need the SSi and med till i had the surgery and was totally healed from the sugery.This doees not make any sence at all.We pay our taxes and what for?
So i am to the point to wher i don’t know what to do.
Yes these crooks need to be behind bars and we need to rid the whitehouse of all of them and all that follow in their footsteps behind them.
We were not designed to live here on this planet and put up with this at all.
All of us who are of love and peace need to come together there are more of us than them.and we could do something about this we have been ied to long enough let stake back our planet from them now.
November 23rd, 2008 at 12:35 am
Harper compares economic crisis to 1929; APEC pledges to shun trade barriers
http://posmedprod.webs.com/economiccollapse.htm
December 8th, 2008 at 5:49 am
(RTTNews) – The value of the controversial $700 billion financial rescue program has