A new Homeowner Bailout ？

[lostinblue 1,989]

http://www.businessinsider.com/glenn-hubbard-chris-mayer-homeowner-bailout-2010-9#ixzz0zzGPMcNs

Momentum Gathers For A New, Massive Bailout Of Homeowners

Joe Weisenthal | Sep. 19, 2010,

Obama's September Surprise: A Shock Reversal On Tax Cuts?Obama Set To Launch Brand New Homeowner Bailout On Tuesday

A new federal program that would be tasked with a massive refinancing of mortgages for strapped Americans has been chattered about for awhile, though The White House has never indicated that the idea is on the table.

But the calls are growing louder. This time it's from the NYT op-ed page, where former Bush advisor (and now Columbia business prof) Glenn Hubbard along with Columbia's Chris Mayer are calling for exactly that -- a massive new agency to bail out underwater homeowners via refinancing.

You can read the op-ed for details -- Hubbard and Mayer anticipate $50 billion in annual savings for homeowners -- though the one thing that's not there is principal reduction. So underwater homeowners under their plan -- though receiving lower interest rates -- would still be underwater.

That being said, at least they'd be able to refinance, which they can't easily do right now, so that would help.

Anyway, nothing like this is going to happen soon, but Obama needs to pull off something like this to start gaining momentum for 2012, and our guess is that this won't require any Congressional approval, because it could be done through the GSEs, with plenty of funding from Treasury and the Fed

Read more: http://www.businessinsider.com/glenn-hubbard-chris-mayer-homeowner-bailout-2010-9#ixzz10DtvtvWk

http://www.nytimes.com/2010/09/19/opinion/19hubbard.html?_r=2&adxnnl=1&ref=opinion&pagewanted=1&adxnnlx=1284899990-ve6qTvd4bPS5vlT0vokRsQ

[Gary and Alla 3,694]

http://www.businessinsider.com/glenn-hubbard-chris-mayer-homeowner-bailout-2010-9#ixzz0zzGPMcNs

Momentum Gathers For A New, Massive Bailout Of Homeowners

Joe Weisenthal | Sep. 19, 2010,

Obama's September Surprise: A Shock Reversal On Tax Cuts?Obama Set To Launch Brand New Homeowner Bailout On Tuesday

A new federal program that would be tasked with a massive refinancing of mortgages for strapped Americans has been chattered about for awhile, though The White House has never indicated that the idea is on the table.

But the calls are growing louder. This time it's from the NYT op-ed page, where former Bush advisor (and now Columbia business prof) Glenn Hubbard along with Columbia's Chris Mayer are calling for exactly that -- a massive new agency to bail out underwater homeowners via refinancing.

You can read the op-ed for details -- Hubbard and Mayer anticipate $50 billion in annual savings for homeowners -- though the one thing that's not there is principal reduction. So underwater homeowners under their plan -- though receiving lower interest rates -- would still be underwater.

That being said, at least they'd be able to refinance, which they can't easily do right now, so that would help.

Anyway, nothing like this is going to happen soon, but Obama needs to pull off something like this to start gaining momentum for 2012, and our guess is that this won't require any Congressional approval, because it could be done through the GSEs, with plenty of funding from Treasury and the Fed

Read more: http://www.businessinsider.com/glenn-hubbard-chris-mayer-homeowner-bailout-2010-9#ixzz10DtvtvWk

http://www.nytimes.com/2010/09/19/opinion/19hubbard.html?_r=2&adxnnl=1&ref=opinion&pagewanted=1&adxnnlx=1284899990-ve6qTvd4bPS5vlT0vokRsQ

as usual they can find a way for the tax code to stimulate or discourage anything...except illegal immigration.

Apply a business ruining TAX to any employer that hires illegal aliens. Sieze their property, including private homes, to pay the tax and see how fast the jobs for illegals evaporate. No jobs, no welfare, no benefits...no fence. Bye Bye illegals! Suddenly there are 12 million jobs that need to be filled. YES Americans WILL DO those jobs, but not for $3 per hour with no benefits. People have jobs, they can pay for their homes and buy new ones. Amazing.

Eliminate 12 million illegal immigrants and lots of "problems" just evaporate.

[Hilarious Clinton 452]

Eliminate 12 million illegal immigrants and lots of "problems" just evaporate.

Yup. How many of the 12 million are on some sort of welfare?

Anti-illegal-immigrant is not anti-immigrant

[evli1966 88]

as usual they can find a way for the tax code to stimulate or discourage anything...except illegal immigration.

Apply a business ruining TAX to any employer that hires illegal aliens. Sieze their property, including private homes, to pay the tax and see how fast the jobs for illegals evaporate. No jobs, no welfare, no benefits...no fence. Bye Bye illegals! Suddenly there are 12 million jobs that need to be filled. YES Americans WILL DO those jobs, but not for $3 per hour with no benefits. People have jobs, they can pay for their homes and buy new ones. Amazing.

Eliminate 12 million illegal immigrants and lots of "problems" just evaporate.

Yup. How many of the 12 million are on some sort of welfare?

Anti-illegal-immigrant is not anti-immigrant