FULL STORY: BLOOMBERG.COM
Monday, March 5, 2012
Boom-Era Property Speculators to Get Foreclosure Aid
Isn't this one of the reasons we're in this mess in the first place? Investors fueled the market backed by lenders who bore no responsibility for the (investor) loans because these loans were sold right after the closing (using ARMs, NegAm, No doc, Low doc loans by the way). Hey why not? The banks got their bailout. Why not the investors? What a joke. I don't care if they were mom and pop outfits or big corporations. They are a business, in business to make a profit. If they can't make money in the business and their liabilities/expenses outweigh their assets/income then they are insolvent! Next step should be an appointment with a competent bankruptcy attorney.
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