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  • tremulousbull tremulousbull Jan 25, 2012 9:07 AM Flag

    Obamas refi plan

    I am still trying to figure out how Obama will be able to sidestep the guidelines set forth in Dodd Frank. Even though it is vague, the law reads any banks that refinance this stuff will have to take a 5% stake, unless it is a qualified loan... which none of these will refinancings could possibly be. (e.g. 20% equity). In my opinion none of this can legally happen.

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    • well said tremulous. I think everyone can agree that on the face of it Obama made a great speech: increased financing for small business, incentives to bring jobs back home, reduced regulation, etc. etc. I tend to lean more republican but I have to say I have never heard an Obama speech that I didn't
      like.....he hits all of the common sense points that we all can agree on. The problem is exactly what you pointed out though: how is he going to get it done? its easy to say but far harder to actually accomplish. After al who can't agree that bringing more jobs back home is a good idea? how is he going to do it though? Obama is like the fun parent, you don't want to do your homework? no problem, You want to do donuts in the driveway....go for it. All the while Obama hasn't even proposed a budget. Meanwhile the Republicans are the responsible parent: do your homework, wear your seatbelt, eat your vegetables.

    • The warm and fuzzy feeling I got from the Obama address last night was smoke being blown up my butt.
      And today the Fed is kicking the can down the road. No potential of interest rate increases until the year 2099 or when hell freezes over. Fixed income retired buddy wants to talk to a Fed chairman in a dark alley.
      The conditions to qualify for Fed subsidized lower interest rate mortgage will eliminate all but the rich who don't really need the help. No homeowner in financial distress will qualify for help.
      So much for owning bank stocks in a diversified portfolio!
      This looser socialist president really believes he should be allowed to pick the winners and loosers in the economy.

    • That's easy...the king will issue a decree....

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