Freeze rates on subprime loans but not conventional ARMS?

[dansolo]

I don't get the current proposal to freeze the rates on subprime loans. These loans were given to people who probably shouldn't have been able to get a mortgage in the first place. With this proposal, people who took out these loans get protection, while good borrowers who have conventional ARMs continue to get screwed by the rising interest rates. This plan looks to me like it's goal isn't to help the consumers, but is really a bailout of the hedge funds that trade these risky loans. These risky investments are losing money big time, and will continue to do so as more and more people get foreclosed on.

[Turbineguy]

1. Bingo! We have a winner!

It is a bailout. That's the reason we have been unable to find out just how much money is involved. All we are told is to be afraid. As soon as the Government does a bailout we will find out that the real amount is far less than we feared.

Does anyone here really believe that funds that invested millions of dollars had no idea what they were risking? They knew to the penny.

[madrchsod]

2. remember folks...who owns the mortgages?

looks like Deutsch Bank would like to know if they do...what a fucking brillant con game they pulled on the banks....