Hold on, it's good news vs. bad news
posted by WeKnowBrevard Blog @ 5:46pm, Saturday 26 July 2008.
Hold on to your hat. The week finished out with big news. First the bad news.
(CARSON CITY, Nev.) — The 28 branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators. www.time.com/time/nation/article/0,8599,1826879,00.html
Not good! Now the good news:
(WASHINGTON) — Congress passed the most significant housing legislation in decades Saturday, offering help to struggling homeowners and seeking to stabilize a troubled housing market that has dragged down the economy. President Bush will sign it quickly, the White House said, despite reservations over $3.9 billion in the bill that would aid neighborhoods devastated by the housing crisis buy and fix up foreclosed properties. http://www.time.com/time/nation/article/0,8599,1826875,00.html
How's it going to help...I don't have a clue except there are billions of dollars that will be made available for distressed homeowners.
That's a real good thing! I can't hardly wait to get to next week to see what will come next. Why do I get the feeling that I will contribute to those billions of dollars?
Until then....There you have it.
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