Homeowners finally bailed out »
Posted By ghgeorge 1 year, 5 months ago in Business & FinanceWe applaud both Congress and the Bush Administration for putting this bill into law, but it looks like it may be too little, too late. Families have been losing their homes in large numbers since February of this year and Freddie Mac and Fannie Mae looked like they only had another month before they went out of business. Why wait until the ship has almost sunk before turning on the bilge pumps? The Bush Administration knew the economy was getting worse because of rising gasoline and old prices, but they did nothing. It is a great place to be if you are an oil baron or are uber rich. For the rest of the working America, including upper middle class engineers and entrepreneur, they are finding out they are prisoners of their homes and it will be many years before home prices come back.
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