Schumer calling for massive inflation!!

[Johnnybags]

Schumer calls on regulators to head off subprime spillover
By Robert Schroeder
Last Update: 11:28 AM ET Aug 8, 2007

WASHINGTON (MarketWatch) -- Sen. Charles Schumer, D-N.Y.. called on federal regulators to take steps to avert more declines in home prices and possible damage to the overall economy. In a letter to the heads of the Federal Reserve, Treasury Department and other regulators, Schumer said they should do "whatever is possible" to boost mortgage liquidity and prevent a spike in foreclosures. Government-sponsored enterprises Fannie Mae


He actually thinks the FED can control house prices and the entire derivative market? What happened to free markets? Guess what? It all means inflation. He is insane, a socialist and must be voted out of office. Should the average consumer pay for a bailout of greedy Schumer backers?

[CJLauderdale4]

Sounds like all a part to devalue the dollar, and move to the amero, because at this rate, "we'll have no other choice."

[CJLauderdale4]

I say, "Let the FRN crash!!"

Ron Paul will be the only REASONABLE choice for saving the nation's monetary unit, from either party.

[nullvalu]

either way, all those people are going to lose their homes.. they probably still couldn't afford them on a 30yr conv. i think we should be going after the deceptive loan officers.. they're the real thiefs.

[ghemminger]

MAybe Bush should take "Real Control" You know shut down some things and just for a period of 6 months have goverment agencies control control all this crazy fluctuations.....and maybe start a HUGE jobs program for all the people being laid off.

Maybe he could "Freeze" all prices on everything...until this gets under control?:D

[jj111]

The real thief is the Federal Reserve and the banking system in this country.

[Johnnybags]

No matter what he does, there are 20k condos for sale in Miami, 20k more coming online soon and they sold 599 in May. Pumping money into the bankers hands and causing inflation to John Q will not solve it, only cause an inflationary depression and general goods and services prices will soar. He is an idiot, let the markets take care of themselves. So what if some Wall st banks lay off people or merge.

[jj111]

Master plan by TPTB: destabilize the dollar, turn the US economy into turmoil, create economic crisis, then Problem-Reaction-Solution: their solution: create the Amero to "stabilize" the economy.

[nullvalu]

The real thief is the Federal Reserve and the banking system in this country.

True that.. I was just referring to the current problem with housing/foreclosures.

[barronbhl]

MAybe Bush should take "Real Control" You know shut down some things and just for a period of 6 months have goverment agencies control control all this crazy fluctuations.....and maybe start a HUGE jobs program for all the people being laid off.

Maybe he could "Freeze" all prices on everything...until this gets under control?:D

He could declare it a "War on Inflation" :cool:

[CJLauderdale4]

I say do everything you can to stay in the house. When the dollar crashes, send your mortgage company a check for a "wheelbarrow" of FRNs, accompanied with an affidavit stating that you are paying of the debt in full with worthless FRNs.

Then you're left with "tangible" real estate. Trust me, if the FRN crashes, the police will not be worried about serving millions of eviction notices...

[Gee]

I don't think Bernanke is stupid enough to fulfill this request. He held interest rates steady yesterday, after all.

Bailing people out who make poor business decisions... Ugh.

[michaelwise]

Just think about how wonderful it will be when home prices return to normal again. First time buyers and middle class families will be able to afford to put a roof over their heads again. Think of the children when mommy and daddy have more money to spend on raising their children, instead of giving all their money to the bank. I think Ben B. cares more about the little guy, than he does about the rich Wall Street bankers. I just get that feeling.

[nullvalu]

Again - Why is noone blaming the loan officers? For this, I don't blame the Fed.. I blame stupid people and the people who took advantage of them.

[nullvalu]

Just think about how wonderful it will be when home prices return to normal again. First time buyers and middle class families will be able to afford to put a roof over their heads again. Think of the children when mommy and daddy have more money to spend on raising their children, instead of giving all their money to the bank. I think Ben B. cares more about the little guy, than he does about the rich Wall Street bankers. I just get that feeling.

I just wish I had some damn money right now, I'd be going nuts reselling forclosed properties.

[lucius]

Master plan by TPTB: destabilize the dollar, turn the US economy into turmoil, create economic crisis, then Problem-Reaction-Solution: their solution: create the Amero to "stabilize" the economy.

This needs to be screamed from the rooftops to all...

[Johnnybags]

A nice point and half today and the banks are celebrating, housing celebrating? OK, I guess the FED must have promised a new round of fresh money? This whole dollar scheme is sickening.

[pyrazole2]

It really is depressing...hopefully we'll have the new AuFRN soon!