Posted by
The New THOMA$ REPORT on Monday, December 22, 2008 3:02:28 PM
That’s what they’re doing with this “bailout” program that’s supposed to “keep people in their homes.” It does NOT. "A new federal report shows that most bailed-out borrowers slip back into default within six months. Will Washington now throw more good (taxpayer) money after bad?" Will they have to bail out the banks and auto unions over and over again along with the borrowers who don’t repay loans? People who don’t repay their loans, which is what the CRA (Citizen’s Reinvestment Act of 1976) was designed to promote, don’t repay their loans, no matter how many chances you give them. So are we going to have to “bail them out” over and over again? (
IBD Editorials)