Welfare Distribution? Not Economic Growth?

A late Christmas present ... Click on cartoon for larger image in new window. Stu Rees Cartoons

From the Miami Herald: Refinance rates low; few qualify

Before LaPenta begins processing an application, he said he makes sure customers are aware of the essential criteria needed to refinance: 20 percent equity in the property, a homestead exemption, a credit score of 700 or higher, a mortgage debt-to-income ratio of no more than 45 percent and the ability to fully document income and assets.

Justin Miller, a broker with Resource Mortgage Group in Plantation, said the current rates, which essentially amount to ''free money,'' are, in a sense, unavailable to those most in need.

However, look at the following and you will hear some elites say "who says there is no free money? It's not me!"

AP study finds $1.6B went to bailed-out bank execs

ET said, "A step forward to following the downfall of Holy See in the 15-17th century."