Fark sums it up nicely
The article, and the Fark headline:
Senate to create $300 billion fund to help up to 400,000 troubled homeowners refinance costly, exotic mortgages. Suck it, people who bought houses within your means
$300 Billion for 400,000 homeowners comes out to $750,000 per homeowner! Why the hell didn't I buy a million dollar house? I could be getting a bail out too!
What a load of crap.
Matt you have it all wrong. These people are the victims of the greedy folks in the mortgage industry. Its not their fault they were swindled into no money down too good to be true loans with lots of fine print and incredible risk. After all they expected to sell after a year or two for a tidy flip profit. Note sarcasm… I bet its really only like 200k per home owner, with the other $550k for lawyers fees and overhead costs, not to mention earmarks.
— Brian Jun 26, 04:50 PM #200K !!!!!! That’s more than we paid for our house!!!! Grrrrr
— Anne Jun 26, 04:52 PM #ugh.. very frustrating isn’t it?
— Pete Jul 14, 11:24 AM #