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    DO YOU REALLY THINK WE ARE NOT GOING TO PAY FOR THIS?

                DO YOU REALLY THINK WE ARE NOT GOING TO PAY FOR THIS?

    Insurance, insurance and more insurance.  Every homeowner should know it’s all about the insurance.  Everyone with anything that must be insured (basically everyone) should consider that inconvenient truth that we will all be asked to pay for this. Premiums for car, life, health and property will go up as insurers who played in this game lost big.

                Whether it’s the private insurers or the US of A guaranteed ones, we will all pay for the banks folly.  But what is most outrageous is that all the crap insured was nothing more than  funny money equity courtesy of bubble blowing banks and FED to begin with. Why should we pay for this?    

    “INSURERS CHEER AS GEITHNER CALLS FOR GOVERNMENT GUARANTEES TO END”  Feb. 11, 2011 (Bloomberg) — U.S. Treasury Secretary Timothy F. Geithner called for limiting the role of government-backed competitors.  “We will encourage Fannie Mae and Freddie Mac to pursue additional credit-loss protection from private insurers,” according to a report today from Geithner and Housing and Urban Development Secretary Shaun Donovan.

    The Federal Housing Administration, which competes with private firms selling mortgage insurance, should cover fewer loans and raise prices, according to the report. Private mortgage insurers are seeking to gain market share and tighten underwriting standards to replenish capital depleted by the collapse of the housing market. Mortgage insurers pay lenders when homeowners default and foreclosure fails to recoup costs.

     

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