February 18, 2009 Text President Obama’s Remarks on the Homeowner Affordability and Stability Plan Following is the text of President Obama’s remarks in Arizona, as prepared for delivery and provided by The White House. I’m here today to talk about a crisis unlike any we’ve ever known – but one that you know very well …
President Obama is taking on a very challenging task. A direct statement to the American people that their mortgages and notes are invalid, unenforceable or void would be portrayed as undermining contractual obligations. It would infuriate the investors who bought the worthless CDOs and undermine Obama’s enormous popularity with allegations of throwing the finance system …
CBS News HOUSE OF CARDS CBS aired a 2 hour news special on the mortgage meltdown. For a change, the facts in it were entirely correct although some important facts were left out. There still remains a bias against the borrowers. While the case was made that the investors were defrauded and didn’t know what …
Some light at the end of the tunnel. It is ONLY when people get mad enough to stay “STOP” that this will end and the economy will recover. Right now we STILL have wealth transfer from the poor to the rich. The foreclosing party has no right to the house or the proceeds of sale. …
