Time To Fold, Don’t Reinforce Failure
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it”
Ronald Reagan quotes (American 40th US President (1981- 89), 1911-2004)
This article is a heartbreaker for the homeowners keeping their heads above water and for all those where their homes have been foreclosed. See why you shouldn’t be relying on the Government to bail you out….
“The Obama team had hoped that their programme, Making Home Affordable, would save as many as 4m families from foreclosure. Unfortunately, the Treasury admitted in October that only 500,000 loans have so far been rescheduled, and a congressional panel has more recently pointed out that all but around 2,000 of those adjustments were only short-term ones. This has prompted more action from the administration, which announced a new mortgage-modification drive on November 30th. The changes to the programme, however, appear to be little more than tinkering.”
