Thursday, May 8, 2008

...and don't forget to cut my grass



The collective jackasses we elected to Congress are at it again.

This time they are going to rescue those poor helpless souls (i.e. greedy condo speculators, morons who didn't read their mortgage documents and downright imbeciles who had no business buying a $400,000 home) stay in their homes on YOUR TAX DOLLARS.

Here are some scintillating highlights for those who don't want to waste the time, blood pressure or bile to read the article:

At the heart of the legislation is a program to provide up to $300 billion in federal loan guarantees through the Federal Housing Administration. The guarantees would be provided only after lenders agreed to reduce the value of a borrower's existing mortgage, after which qualifying borrowers would be refinanced into an affordable loan.

The key phrase is "reduce the value of a borrower's existing mortgage." So let me get this straight...these poor helpless souls get their mortgage REDUCED??? This is the equivalent of the idiot down the street that goes on a Best Buy, Home Depot and Ford F-150 binge on his credit card, claims "poverty" and gets his credit card balance lowered.
Here's another great quote:

"It's not a give-away and not a bailout; there's a lot of good in this bill," Rep. Gary Miller said in an interview.

Huh? If I get my mortgage reduced it's not a "give-away" or a "bailout?" I guess it would only qualify as a "give-away" or "bailout" if they paid their boat or RV off too.

Well at least there is one sane person in Congress:

House Republicans also seized on the price tag for the legislation. "What we can't do is let the federal government be the piggy bank when things don't go like we planned," Rep. Randy Neugebauer said.

Also not mentioned in this article is the Congressional term for those of you who are current on your mortgage and abide by common economical sense - SUCKER.

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