Fannie Mae - What is wrong with this picture?

My daughter emailed me the following story about a 90 year old woman who shot herself, rather than be evicted from her house.

http://www.cnn.com/2008/US/10/03/eviction.suicide.attempt/index.html


After reading the story, other than feeling sorry for the woman and wondering how many cops it takes to evict a 90 year old, my first question was who was the idiot who gave a thirty year mortgage loan to a 86 year old woman (The loan was made in 2004)? Come on! How hard would it be to check her income? This is just greed beyond comprehension. Whoever gave her the loan is the one who ought to be shot.


It also raises the question. Who benefits from the bailout? The little guy who took out the loan and is having trouble paying, or the bank that made the loan and is not receiving income?


I think Congress rushed way to fast into this bailout. I know that both Presidential candidates approved the bill, but I think they both sold us out. This "loan" is not going to benefit us. After all, the banks involved will only be able to pay off their "loan" if they are able to establish good loans to generate money for the bank. We will have to wait and watch, but i have a feeling none of this is going to turn out the way we were promised.

On a different note, today October 4 is the feast day of St Francis of Assisi, one of my favorite saints. For those of you who are pet owners - perhaps you have a cat named Little Fascist - this is the day you take your pet to church for a blessing.
God blesses everyone. Let's hope He is going to bless this country because we really need it.

Stay alert to what is going on. Share your observations with those around you. If we don't look out for one another no one else will.
Its Common Sense.