admittedly paranoid ? re bailout: do we want Repub admin owning our mortgages?
I'm sure I don't understand what Paulson means by $700 billion to buy all of the mortgages. Does that mean the govt is actually going to own our property with all of the rights of foreclosure (and God knows what else) and not the banks? Does this bear any relation to eminent domain law?
I wondered the same thing about Fannie Mae and Freddie Mac - is it really a good idea to put a Bush crony in charge of such large financial institutions?
6. Scariest idea: will the feds use the IRS to collect mortgage debt?
I realize this is far fetched, but it is one of the fears being bandied about. If the feds are full on in the mortgage business, will they use all the devices they have at hand to collect mortgage debt?
7. one of my worries--and will it embroil selective service registration, too?
Socializing mortgage ownership under a right-wing regime looks more like a move toward totalitarianism than socialism. It's not happening in a context of grass-roots revolution. We're completely kept out of it.
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