http://www.youtube.com/watch?v=rPkVUkePmPI 1:07

While rescuing America with Savings and Investment

Bad apples can rot the whole barrel.

Districts of Criminals cannot fool Mother Nature or the markets indefinitely.

What’s annoying about the latest banker bailout disguised as consumer rescue is it taints every other part of the economy.

Too many good smart people are intimidated by this bad real estate driven economy.

No man is an island.

We said disguised, because the 45,000 homeowner BAC mortgage mod plan for Countrywide ARM holders helps less than 1% of the 5+ million American homeowners in default or foreclosure, if it helps them at all.

Participants have to not default for 5 more years before they get 30% debt-forgiveness. The banks hope to earn 6% a year for five years.

http://www.dailyfinance.com/story/credit/bank-of-america-to-cut-principal-on-underwater-mortgages/19412921/?icid=sphere_blogsmith_inpage_dailyfinance

Mortgage Mod Programs may seem like great PR.

In fact they are under subscribed.

One in eight applicants so far completed the applications.

Mortgage Mod may not live up to Great Hype, as we documented in our prior post.

Government, most consumers and taxpayers are plain out of money.

http://www.dailyfinance.com/story/credit/bank-of-america-to-cut-principal-on-underwater-mortgages/19412921/?icid=sphere_blogsmith_inpage_dailyfinance

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