Re: Home Foreclosures: Crisis Is Only Getting Deeper, conservatives

On May 15, 11:57 pm, 2Penny <lw_rog...@[EMAIL PROTECTED]
> wrote:
>      This is a lot of CRAP.  Anyone ever heard of an "amortization
table"?=

>      They've existed for a LONG, LONG time and you could look up how
>      large a loan you wanted and the interest rate and the time period
>      of the loan and you could quickly figure up your monthly payments.
>      I was looking at homes in California and finding out what I'd have
>      to pay each month.  It was more than what I made.  People at the
>      bank wanted me to sign up for a loan and _I_KNEW_ there was
something=

>      wrong and I'm still renting.  When housing comes back closer to
>      what can be justified by an amortization table, I'm in, but not
>      until then.
>
>      As for taxpayer paid for bailouts, why should I be billed for
someone=

>      else's intemperance/idiocy.  Why can't I be rewarded for my sanity
>      and self control?  Why should I be penalized (by way of the IRS)
>      for being cautious?
>
>      2Penny

The program, similar to one the Fed has long had for commercial banks,
will continue for at least six months.

It gives investment firms a place to go for overnight loans.
Commercial banks and investment companies now pay 2.25% in interest
for the loans.

Banks, meanwhile, stepped up their borrowing.

Banks averaged $14.4 billion in daily borrowing for the week ending
May 14.

That compared with $11.7 billion for the previous week.

The identities of commercial banks and investment houses are not
released.

=46rom The Associated Press, 5/15/08:
http://www.usatoday.com/money/industries/banking/2008-05-15-fed-inves...

Investment firms borrow from Fed at fairly steady pace

WA****NGTON (AP) =97

Wall Street investment companies are borrowing from the Federal
Reserve's emergency lending program at a fairly steady pace.

The Federal Reserve said in a re****t Thursday that those firms
averaged $16.6 billion in daily borrowing over the past week.

That compared with $16.5 billion in the previous week.

_______________________________________________

Yup. And homeowners get ****.