Obama Promises to Lower Mortgage Costs
Posted by admin
John Marshall asked:
On Saturday, January 31st, President Barack Obama promised America that he would lower mortgage costs as part of the financial rescue package. The exact terms and methods of how he is going to do this has not been disclosed, but in the near future, the entire rescue plan will be released to the public. Many analysts feel that President Obama will ask for even more than the $700 billion to bail out America. Some predict a number as large as $4 trillion. What exactly does this mean to you?
Well, this is great news to the average American citizen who is struggling in this economy. President Obama recently condemned the executive bonuses that were being distributed to the major players on Wall Street. Like many of us, he feels that individuals should be compensated based on their performance. With many of these financial institutes losing over 75% of their value, these CEOs cannot be performing well as leaders. The president said, “We’ve now learned that people are still getting huge bonuses despite the fact that they’re getting taxpayer money, which, I think, infuriates the public.” Executives of companies receiving federal bailout money will have their pay capped at $500,000 under a financial compensation plan that President Barack Obama announced.
Mr. Obama stated that the proposal will assist the housing crisis which will support credit markets so banks will start lending again. This will greatly benefit small business, car buyers, college students, and real estate markets. Thank you President Obama; hopefully this will work sooner rather than later.
Tiffany
On Saturday, January 31st, President Barack Obama promised America that he would lower mortgage costs as part of the financial rescue package. The exact terms and methods of how he is going to do this has not been disclosed, but in the near future, the entire rescue plan will be released to the public. Many analysts feel that President Obama will ask for even more than the $700 billion to bail out America. Some predict a number as large as $4 trillion. What exactly does this mean to you?
Well, this is great news to the average American citizen who is struggling in this economy. President Obama recently condemned the executive bonuses that were being distributed to the major players on Wall Street. Like many of us, he feels that individuals should be compensated based on their performance. With many of these financial institutes losing over 75% of their value, these CEOs cannot be performing well as leaders. The president said, “We’ve now learned that people are still getting huge bonuses despite the fact that they’re getting taxpayer money, which, I think, infuriates the public.” Executives of companies receiving federal bailout money will have their pay capped at $500,000 under a financial compensation plan that President Barack Obama announced.
Mr. Obama stated that the proposal will assist the housing crisis which will support credit markets so banks will start lending again. This will greatly benefit small business, car buyers, college students, and real estate markets. Thank you President Obama; hopefully this will work sooner rather than later.
Tiffany
