Posts Tagged ‘fannie’
Great New Ad
October 3, 2008Bailout Passes 263-171
October 3, 2008I am listening to Rush right now and it seems as if the market isn’t reacting well. Check this crap out:
SEC. 124. HOPE FOR HOMEOWNERS AMENDMENTS. Section 257 of the National Housing Act (12 U.S.C. 1715z-23) is amended—
(1) in subsection (e)—
(A) in paragraph (1)(B), by inserting before ‘‘a ratio’’ the following: ‘‘, or thereafter is likely to have, due to the terms of the mortgage being reset,’’;
(B) in paragraph (2)(B), by inserting before the period at the end ‘‘(or such higher percentage as the Board determines, in the discretion of the Board)’’;
(C) in paragraph (4)(A)—
(i) in the first sentence, by inserting after ‘‘insured loan’’ the following: ‘‘and
any payments made under this paragraph,’’; and(ii) by adding at the end the following: ‘‘Such actions may include making payments, which shall be accepted as payment in full of all indebtedness under the eligible mortgage, to any holder of an ex6
isting subordinate mortgage, in lieu of any future appreciation payments authorized under subparagraph (B).
O’Reilly Gets Frank with Frank
October 3, 2008I saw this mess before the debate. The audio was off, but it looked brutal. Weird thing is that I listened to Glenn Beck two days ago for the first time and O’Reilly was on shilling his book. He told Glenn that he was about to take Frak apart and it looks like a self-fulfilling prophecy
Trust, But Verify 