"I do not believe it is the best decision for the country," responds Tim Geithner to FHFA chief...


"I do not believe it is the best decision for the country," responds Tim Geithner to FHFA chief DeMarco's decision concluding principal forgiveness neither helps avoid foreclosure nor does it benefit the taxpayer. Campaign prattle, suggests Neil Barofsky - "If the Administration and Geithner wanted broad principal reduction, we would have it."

Comments (6)
  • Whitehawk
    , contributor
    Comments (3121) | Send Message
     
    The regulator was speaking only for Fan and Fred, and not for the property rights of creditors. Since FanFred is a ward of the state, I hardly think of this as anything other than a good cop-bad cop routine between the reg and Timmah.
    31 Jul 2012, 03:14 PM Reply Like
  • wyostocks
    , contributor
    Comments (9115) | Send Message
     
    Memo to Ben
    Instead on giving money to the banks send every American one million dollars, all debts will be paid off and lots on extra to spend on stimulating the economy.
    All problems solved.
    31 Jul 2012, 03:16 PM Reply Like
  • WMARKW
    , contributor
    Comments (10798) | Send Message
     
    Wyostocks.....I don't know that I'd go for a $ 1 Million per person deal, but I wouldn't mind a 1 or 2 year Federal Income Tax Holiday....I suspect that would get the spending going too. In fact....I promise I will buy a Chevy Volt if the Fed's reduce my Income Tax liability to zero for 2 years. How about that !!!! And for 3 years.....I add in Solyndra Solar Panels on my roof. !!!
    1 Aug 2012, 03:42 AM Reply Like
  • wyostocks
    , contributor
    Comments (9115) | Send Message
     
    Yeah but 50% pay no income tax so the little guy wouldn't get a benefit. Only the "rich" would get a gov't handout.
    Under your plan I'd also add a "union dues holiday" to also help the "working" people.
    1 Aug 2012, 07:27 AM Reply Like
  • WMARKW
    , contributor
    Comments (10798) | Send Message
     
    wyo....and the 50% that would get a benefit would be the ones who could actually have something left over to spend. Incremental contribution to the economy.

     

    I like the Union dues holiday....you should come up with a name and apply for national holiday....we need another one - I don't get enough days off.
    1 Aug 2012, 07:10 PM Reply Like
  • TWagen
    , contributor
    Comments (168) | Send Message
     
    The administration didn't get the political cover that they wanted so that they wouldn't have to take the fall for the ramifications.

     

    Too bad. Take charge and just blast those creditors ! That will teach them to ever give credit to anyone except the financially able again. Oh yeah, I guess the economy might tank if we do that. Back to square one, lets do another study to see if it makes sense.

     

    And round we go....!
    31 Jul 2012, 03:21 PM Reply Like
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