If it wasn't so disgusting it might be funny.
Our esteemed Fed Chairman coming out in testimony this week saying, "principal reductions that restore some equity for the homeowner may be a relatively more effective means of avoiding delinquency and foreclosure."
This is what he really said. Hey you, Mr. Bigshot Homeowner who leveraged your firstborn to buy a house much bigger than you could ever afford (and probably lied about your financial condition like 70% of mortgage applications out there) and who is driving new vehicles from doing refi's as your home appreciated, just dont' worry about a thing. I am going to ask your banker to REDUCE the amount of money you owe the bank on your mortgage to save his ass (and yours).
No wonder this country is in such a financial pig pen with loons like Ben tossing out life vests to every friendly banker and Congressman.
Who said it was an election year?
Native American Advisors, Inc.
- Dean Parisian
- CHIPPEWA PARTNERS is a Registered Investment Advisor and provides investment management to private investors, retirement plans and Native American tribal entities. Founded in 1995 as a fee-only money manager we are about doing the right things the right way and our expertise developed over 25 years balances financial acumen with absolute integrity. Dean Parisian is a former NASD and NYSE arbitrator and very successful trader who started his career on Wall Street in 1982 with Kidder Peabody and then with Drexel Burnham Lambert. The firm is a Life Member of the National Congress of American Indians and adheres to fiduciary standards. As a private, unbiased firm we know what to do and are prepared to do it. We invite your inquiry to manage your assets. ChippewaPartners@aol.com. Office: 877-772-1621 www.chippewapartners.com
Thursday, March 06, 2008
Say it ain't so, Ben.......
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