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February 10, 2009

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Home Foreclosures –Treasury To Spend $50 Billion

by Bob Schwartz

home foreclosuresThe Dow's rise of 334 points over the previous five sessions was wiped out by today's drop of 382 points. Wall Street's message to Treasury Secretary Timothy Geithner was very clear . . . If you have a plan to announce, give us the details and not just vague generalities!

The plan outlined by Treasury Secretary Timothy Geithner proved, to many observers, too vague on important details.

Geithner said that $50 billion in federal rescue funds will be used to try to stem and soften the crushing impact of the deep housing crisis now afflicting the entire economy. He also said that details would be out in two weeks.                  San Diego real estate agents     

 

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3 Comments
  1. Feb 12 2009

    When a country can no longer produce wealth the aristocracy dreams up schemes to defraud the masses of their existing funds.Its always been that way throughout history and the USA today is no different
    Dallas Bail Bondsman

  2. Feb 12 2009

    Why always blame somebody else? What happened to self responsibility and self accountability? It’s your responsibility!
    Sacramento Law

  3. Feb 12 2009

    The only way to pay that off is massive inflation– 10-15% every year for 6-8 years.
    San Diego Cosmetic Surgeon

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