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Texpat · 22-02-2008, 11:42 PM

By Edmund Andrews
International Herald Tribune
Feb 22, 2008

WASHINGTON: Prodded in part by some of the biggest banks in the nation, the Bush administration and Congress are considering costly new proposals for the government to rescue hundreds of thousands of homeowners whose mortgages are higher than the value of their houses.

Not since the Depression has a larger share of Americans owed more on their homes than they are worth. With the collapse of the housing boom, nearly 8.8 million homeowners, or 10.3 percent of the total, are underwater. That is more than double the percentage just a year ago, according to a new estimate of the damage by Moody's Economy.com.

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U.S. weighs rescue for homeowners in debt - International Herald Tribune

The second shoe falling? This pisses me off. I understand it may be necessary for the better good, but can't they levy an idiot tax on these greedy dumbasses for 20 or 30 years?

22-02-2008, 11:42 PM	#56 (permalink)
Texpat ฝรั่งพูดมาก Last Online: 02-01-2009 06:58 PM Join Date: Jan 2006 Location: Nong Khai Posts: 10,212	By Edmund Andrews International Herald Tribune Feb 22, 2008 WASHINGTON: Prodded in part by some of the biggest banks in the nation, the Bush administration and Congress are considering costly new proposals for the government to rescue hundreds of thousands of homeowners whose mortgages are higher than the value of their houses. Not since the Depression has a larger share of Americans owed more on their homes than they are worth. With the collapse of the housing boom, nearly 8.8 million homeowners, or 10.3 percent of the total, are underwater. That is more than double the percentage just a year ago, according to a new estimate of the damage by Moody's Economy.com. *** U.S. weighs rescue for homeowners in debt - International Herald Tribune The second shoe falling? This pisses me off. I understand it may be necessary for the better good, but can't they levy an idiot tax on these greedy dumbasses for 20 or 30 years?