Our agency continues to be appalled by the indefensible behavior. they re not going to let it happen again but it always happens again. that video was part of this top hats award program. it won that awards program. $200,000 was given away in prizes in that program. not only are they mocking us with what they re singing about right there but that video cost us $200,000? basically, yes. amongst other prizes that were handed out. it goes on and on and on. is in the mindset of government workers? again, they make more than us. better benefits. job for life and now they mock us with a video like that having spent $830,000 on a conference in las vegas. that s the symbolism of a president that came forward and said i m going to go through the budget line by line and i m going to bring everything i can. that took place in
Reduce the principal that you owe, not just the interest. that that may be the way to go ahead and do that. now, the worry of course, is that this is going to create the kind of incentive that may help some people but once the money is spent, and there s about $50 billion of the bank bailout, $700 billion set aside for this, once the program ends, then does the housing market again have the same troubles? that happened with the first time homebuyers. jamie: doesn t it have to? i m a mortgage broker and i know when you gather a mortgage for someone and the bank sells it in the secondary market, what are they going to do, go back to the secondary market and say give us $200,000 back, because we have to give the homeowner a break? how do you reduce the principal and not throw the economy off? that is a great issue and a lot of people are worried about that. however, about 120 servicers are participating in the program.