90% of Nations Mortgages?

[ranxer]

Feb. 9 (Bloomberg) -- The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.

http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok

Where's the outrage?! damn it! we just keep handing money to the people and corps that have brought the crisis and it's not even working. i don't know if this was posted before but this gets my goat, especially since a lot of folks were saying we should pay mortgages back when the bailouts were first discussed. argh, we'd have a construction boom by now, course renters might be a little miffed.

[Evil Robot]

I sure wish I was stupid enough to listen to popular culture and buy a house. Right now I'm renting a house at a modest price that would have cost me close to a million dollars to buy, but the only thing my landlord has to pay are the taxes. Thats how real estate SHOULD be done. This fiat mortgage based bullshit has never worked for any good length of time.

[El Blanco]

I pay less in mortgage and maintenance and utilities than pretty much all of my friends pay in just rent. And I'm building equity.

Suck it.

Also, ranx, are you proposing we just use that money to pay off 90% of mortgages? Do you have any idea what that would do to the already shitty housing market?

[Evil Robot]

90% of Nations Chimp Attack

[Dimnos]

I go to work every day... I pay my mortgage... Now Im wondering why? I think ill just stop paying and just not move out... Obama is going to pay my mortgage right? Why should I? With the crappy credit situation who would buy my house anyway? Especially if I come outside and piss in the bushes when they come to look at it. Ill just spend all my money making my house "green" that way I can claim to be out of cash with no way to pay. Its fool proof! Free Rides for Everyone!