[Iowa-dx] Treasury Secretay Paulson: "No Easy Answer"
GreenParty Ron
greenpartyron@activist.com
Mon, 7 Jan 2008 17:40:43 -0500
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From: "Libris Fidelis" LibrisFidelis@activist.com
To: RepublicanPsyche@yahoogroups.com
CC:
Subject: [RepublicanPsyche] Treasury Secretay Paulson: "No Easy Answer"
Date: Mon, 07 Jan 2008 22:30:21 -0000
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Paulson: No Easy Answer
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D
to Mortgage Woes
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Monday, January 07, 2008 11:23:55 AM [IMAGE]
"Did I say that," asked Treasury
Secretary Henry Paulson on
Monday.
"I think I said that the Bush administration feels that free
enterprise capitalist corporations can do anything they want to!
This is a free society! If they want to cheat mortgage holders
out of their life savings with scam mortgages, that's what US
business corporations do, it's the mortgage companies' right!"
"I don't see where the people have any rights in this," he
continued. "The mortgage companies were as much victims
in all of this as the mortgage holders were. You have to
understand that the mortgage companies just did not understand
the words in their own contracts, they did not realize they were
putting themselves in jeopardy by bankrupting most of their
customers, it's just as simple as that."
"The mortgage companies saw an honest advantage in ripping
off the public, that's all there is to it, and they simply made a
normal business mistake in their common business practices,
that cost them a lot of money when their victimized mortgagees
could not pay the exponentially-increasing mortgage interest
rates and then defaulted, which is their fault! And who would
have guessed, that at the same time as the mortgagees
defaulted, that the value of the housing market would drop so
suddenly that there would be no new customers to buy up the
"roll-over" defaulted properties? You see what the mortgagees
did to the mortgage industy? Those bankrupted mortgagees
interfered with the free enterprise market system! It's just that
simple."
"You should not be bickering to accuse the mortgage companies
of any wrong-doing! The mortgage companies suffered greatly
when hundreds of thousands of their customers took those
fine-print hundred-page contracts, when they should have been
aware of what they were signing. Customers should always
know that the mortgage companies could not possibly know
entirely that their usurous interest rates and penalties would
bankrupt that many of their customers! If only a few tens of
thousands of customers went bankrupt over their mortgage rate
scams, and this would never have been any problem! Those
people took advantage of their mortgage companies!"
__._,_.___ [IMAGE]
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<TD class=3Dfst><B><FONT size=3D2>From:</FONT></B> "Libris Fidelis" <A href=
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<TD class=3Dft><!-- --><B>To:</B> RepublicanPsyche@yahoogroups.com<BR><B>CC=
:</B> <BR><B>Subject:</B> [RepublicanPsyche] Treasury Secretay Paulson: "No=
Easy Answer"<BR><B>Date:</B> Mon, 07 Jan 2008 22:30:21 -0000<BR><!-- --></=
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<DIV>
<H1><FONT color=3D#3366ff>Paulson: No Easy Answer</FONT></H1>
<H1><FONT color=3D#3366ff>to Mortgage Woes </FONT></H1>
<DIV class=3Ddate>Monday, January 07, 2008 11:23:55 AM</DIV>
<DIV class=3Dauthor> </DIV><A><IMG class=3Dthumbnail3 height=3D119 src=
=3D"http://www.vimg.net/darwin/cms/images/APNews/Top%20Headlines/20080107/P=
aulson%20Housing_20080107_aa38f74a-d643-4eae-9a69-499bbf1240d3_180x210.jpg"=
width=3D180 align=3Dleft border=3D0></A>=20
<P><BR> </P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>"Did=
I say that," asked Treasury<O></O></FONT></SPAN></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>Secr=
etary Henry Paulson on<O></O></FONT></SPAN></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>Mond=
ay.<O></O></FONT></SPAN></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><O></O></SPAN></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>"I t=
hink I said that the Bush administration feels that free</FONT></SPAN>=
</P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"></SPAN><FONT size=
=3D3><SPAN style=3D"FONT-SIZE: 10pt">enterprise capitalist corporations can=
do anything they </SPAN><SPAN style=3D"FONT-SIZE: 10pt">want to!</SPAN></F=
ONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">This=
is a free society! If they want to cheat </SPAN><SPAN style=3D"FONT-=
SIZE: 10pt">mortgage holders</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">out =
of their life savings with scam </SPAN><SPAN style=3D"FONT-SIZE: 10pt">mort=
gages, that's what US</SPAN></FONT></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>busi=
ness corporations do, it's the mortgage companies' right!"<O></O></FONT></S=
PAN></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><O></O></SPAN></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">"I d=
on't see where the people have any rights in this," </SPAN><SPAN style=3D"F=
ONT-SIZE: 10pt">he</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">cont=
inued. "The mortgage companies were as much </SPAN><SPAN style=3D"FON=
T-SIZE: 10pt">victims</SPAN></FONT></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>in a=
ll of this as the mortgage holders were. You have to</FONT></SPAN></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">unde=
rstand that the </SPAN><SPAN style=3D"FONT-SIZE: 10pt">mortgage companies j=
ust did not understand</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">the =
words </SPAN><SPAN style=3D"FONT-SIZE: 10pt">in their own contracts, they d=
id not realize they were<O></O></SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">putt=
ing themselves in jeopardy by bankrupting most of </SPAN><SPAN style=3D"FON=
T-SIZE: 10pt">their</SPAN></FONT></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>cust=
omers, it's just as simple as that."<O></O></FONT></SPAN></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><O></O></SPAN></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">"The=
mortgage companies saw an honest advantage in </SPAN><SPAN style=3D"FONT-S=
IZE: 10pt">ripping</SPAN></FONT></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>off =
the public, that's all there is to it, and they simply made a</FONT></=
SPAN></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">norm=
al business mistake </SPAN><SPAN style=3D"FONT-SIZE: 10pt">in their co=
mmon business practices,</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">that=
cost them a lot of </SPAN><SPAN style=3D"FONT-SIZE: 10pt">money when their=
victimized mortgagees</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">coul=
d not pay </SPAN><SPAN style=3D"FONT-SIZE: 10pt">the exponentially-increasi=
ng mortgage interest</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">rate=
s and then </SPAN><SPAN style=3D"FONT-SIZE: 10pt">defaulted, which is their=
fault! And who would</SPAN></FONT></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>have=
guessed, that at the same time as the mortgagees</FONT></SPAN></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">defa=
ulted, that the value of </SPAN><SPAN style=3D"FONT-SIZE: 10pt">the ho=
using market would drop so</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">sudd=
enly that there </SPAN><SPAN style=3D"FONT-SIZE: 10pt">would be no new=
customers to buy up the</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">"rol=
l-over" defaulted </SPAN><SPAN style=3D"FONT-SIZE: 10pt">properties?<SPAN>&=
nbsp; You see what the mortgagees</SPAN></SPAN></FONT></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><SPAN><FONT size=3D=
3>did to the mortgage industy? Those bankrupted mortgagees</FONT></SP=
AN></SPAN></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3><SPA=
N>interfered with the free enterprise market system! </SPAN>It's just=
that</FONT></SPAN></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>simp=
le."<O></O></FONT></SPAN></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><O></O></SPAN></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">"You=
should not be bickering to accuse the mortgage </SPAN><SPAN style=3D"FONT-=
SIZE: 10pt">companies</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">of a=
ny wrong-doing!<SPAN> </SPAN>The mortgage companies </SPAN><SPAN styl=
e=3D"FONT-SIZE: 10pt">suffered greatly</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">when=
hundreds of thousands of their </SPAN><SPAN style=3D"FONT-SIZE: 10pt">cust=
omers took those</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">fine=
-print hundred-page contracts, when </SPAN><SPAN style=3D"FONT-SIZE: 10pt">=
they should have been</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">awar=
e of what they were signing. </SPAN><SPAN style=3D"FONT-SIZE: 10pt">Custome=
rs should always</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">know=
that the mortgage companies </SPAN><SPAN style=3D"FONT-SIZE: 10pt">could n=
ot possibly know</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">enti=
rely that their usurous interest rates </SPAN><SPAN style=3D"FONT-SIZE=
: 10pt">and penalties would</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">bank=
rupt that many of their customers! </SPAN><SPAN style=3D"FONT-SIZE: 1=
0pt">If only a few tens of</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">thou=
sands of customers went bankrupt </SPAN><SPAN style=3D"FONT-SIZE: 10pt">ove=
r their mortgage rate</SPAN></FONT></P>
<P class=3DMsoNoSpacing><FONT size=3D3><SPAN style=3D"FONT-SIZE: 10pt">scam=
s, and this would never have been any </SPAN><SPAN style=3D"FONT-SIZE: 10pt=
">problem! Those</SPAN></FONT></P>
<P class=3DMsoNoSpacing><SPAN style=3D"FONT-SIZE: 10pt"><FONT size=3D3>peop=
le took advantage of their mortgage companies!"</FONT></SPAN></P></DIV><SPA=
N style=3D"COLOR: white" width=3D"1">__._,_.___</SPAN> <IMG height=3D1 src=
=3D"http://geo.yahoo.com/serv?s=3D97476590/grpId=3D21406332/grpspId=3D17050=
60375/msgId=3D8/stime=3D1199745024" width=3D1> <BR></SPAN></TD></TR></TBODY=
></TABLE></TD></TR></TBODY></TABLE></DIV></DIV><BR>
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