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  • The Lease-Back Bailout [View article]
    Ummmm ......

    1) This would put us right back in the "don't lose money for the taxpayer" arugment. Does the US buy those houses at the loan value or market value? How do homeowners/banks handle the losses in the latter case? How do the taxpayers handle the losses in the former case?

    2) Just how exactly will Uncle Sam maintain the house when something important needs to be fixed? No-bid contracts? (Can you say "Waste, fraud, and abuse."?) I wasn't aware that Haliburton was in the property management business ... yet.

    3) Who sets the rent? Security deposits? Who collects?

    4) What about local government property tax revenues that suddenly shrink because all that 'new' federal property is exempt?

    5) Let's not even attempt to discuss where the Trillions of dollars needed to buy the houses would come from in the first place.

    Sure, I can see that plan working at break-even or better ... NOT.

    Like most proposed government programs, lots of sizzle, very little steak.
    Oct 22 13:46 pm |Rating: 0 0
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