View Full Version : Hello, Price Controls: Bush to Freeze Mortgage Rates
Zydeco
12-05-2007, 06:07 PM
"President George W. Bush is expected to outline on Thursday a plan to freeze mortgage rates for five years for many U.S. homeowners facing sharp increases in their monthly payments, industry sources said on Wednesday."
http://www.reuters.com/article/politicsNews/idUSWAT00853020071205?feedType=RSS&feedName=politicsNews&rpc=22&sp=true
seapilot
12-05-2007, 06:17 PM
Wall street is going to have a heart attack!
forsmant
12-05-2007, 06:23 PM
HE should freeze the rate at zero.::mad:
Johnnybags
12-05-2007, 06:24 PM
I hope so. How about credit cards at 20 percent? Can he freeze em to say 5? LOL, the stock market is cheering a depression?
rory096
12-05-2007, 06:39 PM
HE should freeze the rate at zero.::mad:
So the government should forcibly take away banks' profits and even make them have a negative real interest rate? I bet that's going to encourage investment in mortgages!
anotherone
12-05-2007, 06:45 PM
Bush is an idiot.
I can't afford a house because a bunch of morons signed on to mortgages they can't afford and inflated the demand.
Now those people should lose their homes, so prices can drop back down to acceptable levels.
But no, assmaster Bush has to come in and give us some more Big Government loving. Makes me sick.
tekkierich
12-05-2007, 06:54 PM
Makes me happy I was responsible two years ago took a little bit higher rate for a traditional mortgage.
Oh wait, no it doesn't
Nor does it make me happy that I had a fight with my wife on the process to deciding to buy this smaller and cheaper house then she wanted.
I was starting to feel smart about all of this, now I sure don't.
This is BAD BAD BAD
Zydeco
12-05-2007, 07:00 PM
It's pretty amazing to watch so many banana republic, could-never-happen-here scenarios play out one after the other.
The incredible thing was their ability to make so many people believe, for so long, that a communist government was a Jeffersonian republic.
Time for a Constitutional restoration.
torchbearer
12-05-2007, 07:04 PM
each bank should determine there own rate, but only if the banking cartels are made illegal. including the federal reserve. Then, the best bank wins.. and so does the people.
icon57
12-05-2007, 07:11 PM
Bush fears being blamed for the coming recession and is trying to hold it off as long as possible by tinkering with something he has no business tinkering with. Why don't we hear the supposedly "conservative" Fox news attacking him for this decision, which is definitely NOT a conservative one.
Minuteman
12-05-2007, 07:19 PM
THis is bad guys. Freezing interest rates does not help our economy. Unfortunately, we are going to have to face the fact that its going to get worse before it gets better. We are going to have to face a period of stabilization where we will probably face interest across the board of 20+ and high inflation.
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