Monday, Dec 28, 2009

Today the U.S. government, directly or indirectly, underwrites nine of every 10 new residential mort

Wall Street Journal: After the Bailouts, Washington's the Boss

To prevent crumbling housing and credit markets from sinking the broad economy, the Bush and Obama administrations and the Federal Reserve spent, lent and invested more than $2 trillion on one initiative after another.

Posted by devo @ 07:50 PM (1514 views)
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9 Comments

1. devo said...

gages

Monday, December 28, 2009 07:51PM Report Comment
 

2. devo said...

The great jurist Sir Edward Coke, who lived from 1552 to 1634, has explained why the term mortgage comes from the Old French words mort, "dead," and gage, "pledge." It seemed to him that it had to do with the doubtfulness of whether or not the mortgagor will pay the debt.

If the mortgagor does not, then the land pledged to the mortgagee as security for the debt "is taken from him for ever, and so dead to him upon condition. And if he doth pay the money, then the pledge is dead as to the mortgagee."

Monday, December 28, 2009 07:57PM Report Comment
 

3. devo said...

What's in a name?

If they'd simply called them 'dead pledges' they might not have become so popular.

Monday, December 28, 2009 08:01PM Report Comment
 

4. hpwatcher said...

To prevent crumbling housing and credit markets from sinking the broad economy, the Bush and Obama administrations and the Federal Reserve spent, lent and invested more than $2 trillion on one initiative after another.

What they know about wealth creation, you could write on the back of a postage stamp.

Monday, December 28, 2009 08:28PM Report Comment
 

5. devo said...

4. hpwatcher said... What they know about wealth creation, you could write on the back of a postage stamp.

They are slaves to the banksters, who know a lot about wealth creation - for themselves.

Don't call me a conspiracist - instead explain clearly and concisely why I am wrong.

Monday, December 28, 2009 08:35PM Report Comment
 

6. rumble said...

"know a lot about wealth creation" - by that do you mean "are ideally placed to take people's money for doing nothing and managing to stuff that up" ?

Monday, December 28, 2009 09:17PM Report Comment
 

7. devo said...

"ideally placed to take people's money for doing nothing"
yes

"managing to stuff that up"
not sure

Monday, December 28, 2009 09:27PM Report Comment
 

8. rumble said...

True. Managing to stuff up everything that touches it. And get rewarded for it with said people's money.

Monday, December 28, 2009 10:16PM Report Comment
 

9. devo said...

You sound as if you've been burnt, rumble.

More powerful people than us will soon be looking for retribution.

Watch your backs, banksters.

Monday, December 28, 2009 10:21PM Report Comment
 

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