Chuck Norris to the Financial Crisis Rescue

8 Replies to “Chuck Norris to the Financial Crisis Rescue”

1. The US is spending close to 800-billion to rescue the economy. Now they’ll own big business and the mortgages. When you own the mortgage you own the home. Isn’t that called communism?

2. “When you own the mortgage you own the home.”
   Actually, no you don’t. The mortgage lender does not hold title to the property securing the mortgage: the borrower does. That’s why multiple mortgages can be secured by the same property (or percentages of it).

3. The real issue with CDO’s is that some Courts
   have ruled that the individual assets (houses) can’t be foreclosed on, as the CDO’s owners can’t demonstrate actual OWNERSHIP of the asset in question.
   What is actually needed, is that the Feds will have to take possession of the the actual Certificates of Title, match them to the collateralized paper, separate them, and sell the actual debt on the actual asset to some institution willing to write a loan. Unfortunately, this will require the Fed to take the inevitable loss on the transaction, as well as probably having to subsidise the borrower, at least in the short term.
   I can see this possibly happening under McCain, but definately not happening under Obama

4. Any way you slice it the taxpayer gets screwed again.
   My favourite Chuck tag line: “The reason there is a universe is because it is to scared to be on the same planet as Chuck Noris”.

5. Any way you slice it the taxpayer gets screwed again.
   My favourite Chuck tag line: “The reason there is a universe is because it is to scared to be on the same planet as Chuck Noris”.

6. Someone owes me for a new keyboard!!

7. Chuck Norris doesn’t worry about the mortgage disaster or of home buying. He has so many friends in Hollywood he just moves from one to another. He don’t need no stinkin domicile.

8. Chuck Norris isn’t a stupid, no talent actor; facts and talent are just too frightened to go near him.