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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (99788)	7/19/2009 5:29:54 PM
From: koan	Respond to of 116555

Obama did nothing to help the mortgage holders and credit worthy middle class. Nothing! And there were many things he could have done that would have cost nothing. Had he done what I post below it would have helped the housing market, the middle class, created tons of jobs and the economy as a whole A couple of examples: 1) He could have let credit worthy homeowners refinance 120% of appraisal instead of 105% as that would have allowed many people to keep their homes and they would have, knowing prices will eventually snap back. But he needed to run those programs through local banks NOT the primary mortgage holders as they have no encientive to do anything and didn't. 2) Allow those those same people to refiance and combine first and seconds. 3) Make a pot of money available, say 100 billion that the local banks and finance companies could tap into for the above programs to expedite the above. The four ideas above would most likey have cost the government nothing and would have gone a long way toward helping our present predicament. Why Obama and his geniuses didn't think of this I will never understand? It is so simple and so easy to do with little tp no risk.