Eike Batista (worth 7.5 billion, on his way to being the richest man in the world) was talking about raising children and he said that children must be "made to suffer".He made his own kids take hard dirty jobs when they were growing up so that they would learn to work and learn the value of money.It made me think.

Along with covering the rage of those ranting that it bails out individual irresponsibility with tax dollars.Said it was in response to the failed $XXX billion plan that has only helped 200K homeowners restructure, and it failed to say how much the bank incentives would offset the principal reduction.More fuel on the fire.

Key Features of the New Housing Rescue Plan The government’s newest housing rescue effort, which was announced Friday, includes these key tenets:·As much as $14 billion of the Troubled Asset Relief Program (TARP) will be made available to pay for writing down second liens for loans whose borrowers refinance through the Federal Housing Administration.·Lenders that facilitate refinances through the FHA will be required to write down the principal of the first mortgage by at least 10 percent so the home owner has a loan-to-value ratio no higher than 97.75 percent.·Lenders of second liens will be offered incentives of 10 cents to 21 cents per dollar of principal they write down in connection with an FHA refinance.·Borrowers who lose their jobs can apply to have their mortgage payments reduced for three to six months while they search for a new job.·Borrowers with a payment still greater than 31 percent of income after they find a job will be considered for a permanent loan modification.·To encourage more short sales and “deed in lieu†of foreclosure transactions in which the lender settles the loan for less than is owed, the government will double assistance to borrowers to $3,000 and increase incentives to subordinate lien holders and investors to $6,000.

The current credit meltdown and high foreclosures have created an even bigger opportunity as over $800+ Billion in bad loans are soon to be sold off on the open market.

Actually about 10% of those listed claim to have made their billions in real estate...

with close to a $20 billion deficit at present.Greece has nothing on us.

That being said, multi-billion dollar corporations spend billions of dollars on Madison Avenue marketing to convince us that product A is better than product B because of X, Y and Z.

But you are correct otherwise, the maont needed for the budget this year would be $3.6 trillion plus a few hundred billion for SS and medicare to be fully funded.

THINK ABOUT THIS, If 200 million North Americans refuse to buy just $20 each of Chinese goods, that's a billion dollar trade imbalance resolved in our favor...fast!!

Think about it, if I owed you 100k and I had two billion dollars that I can easily access but I just don't "want" so I ask for the short sale, I know that's extreme but you get my point.Also understand that banks are not required to short a property, you entered into an agreement to pay off the debt and they have the right to say NO ,that may be the case with you.