Mistake to Give the Treasury Secretary A ‘Blank Check,’ Republican Says
(CNSNews.com) – Sen. James Inhofe (R-Okla.) wants to block the remaining $350 billion that Congress authorized Treasury Secretary Henry Paulson to spend as part of an emergency plan to ease the nation’s credit crunch. In a letter to his Senate colleagues, Inhofe said he’ll push for legislation that will require Congress to ratify Paulson’s plan for the remaining $350 billion. [more]
posted by HeavyHanded at
9:21 PM
3 Comments:
I am one of thousands who have a mortage that will change interest rate 1st of January. I have asked the lender countrywide to leave the interest rate the same and I will be able to continue payments. They answered that I must let the payment go bad next month and than they will be able to try and help. I informed countrywide that I have never let a payment go bad in my life and would not start now. There answer is we will not be able to help you. I think now that countrywide feels that the more houses that go south will help to get the big pie in the sky u.s.goverment to give more money.
By
Anonymous, at 1:33 PM
That may very well be the case. It is a crying shame that banks won't let borrowers have a reprieve and continue to let them pay the original interest rate for another 2 or 3 years.
It puzzles me because:
(A) Rates have not changed much
(B) They lose their shirts on foreclosures.
By
HeavyHanded, at 4:51 PM
Yea, what are they doing with 350 billion dollars. It does seem to be that something thing needs to be done with that money will will help people. they could probably fee an entire country with it but i am sure they will do something much more American. I just wonder what the illuminati will do and how much more bail out money they are going to give once they are in charge. We'll see.
By
road warrior, at 11:30 PM
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