Posted on 03/27/2010 6:13:44 AM PDT by lowbridge
UPDATE: Apparently ordering the banks, car companies, health insurance companies, doctors, hospitals, medical device manufacturers, energy companies and states around is not enough for the Obama Administration, as they apparently also ordered the Washington Post to completely rewrite the headline of the article cited above, and WaPo, sadly, agreed. First, here’s the accurate headline chosen by the nominally “independent and objective” newspaper Washington Post:
“Obama administration to order lenders to cut mortgage payments for jobless”
That is an accurate headline as it actually describes the new initiative planned by Obama. Now, this morning, after some scolding by the Obama Administration, the Washington Post editors trashed the old headline, and replaced it with an Axelrod-drafted left wing talking point:
“Obama readies steps to fight foreclosures, particularly for unemployed”
The actual policy planned by Obama, of course, hasn’t changed. However, now millions of Americans will see that new headline, a pure dollop of spin directly from the Obama Administration, instead of the accurate former headline. Indeed, the word “order” now does not appear anywhere in the article. This latest manipulation of the establishment media by the Obama Administration is just another piece of evidence that proves everyday Americans can no longer trust the media to accurately report upon the activities of the Obama Administration.
(Excerpt) Read more at centristnetblog.com ...
Obama administration to order lenders to cut mortgage payments for jobless
And from where does that federal authority come from, to just on a presidential whim, order private banks to do any such thing.
It’s high time we citizens are told what part of the US Constitution the federal government, including Congress, gets it’s powers to do this from. It’s hard to figure how a a house moves over State lines.
Has this been done before? Can I get in on the deal/sarcasm
Banks sell mortgages over state lines.
“Obama Administration Orders New Headlines”
“Obama Administration Orders New Headlines”
LOL! Thanks!
Yep! Remember the Community Reinvestment Act (CRA)? If a bank had a low CRA rating then the Congress would not allow them to expand across state lines or acquire more banks across state lines. Guess what a bank had to do to get a high CRA rating? Up the quota of subprime loans. A low CRA rating basically meant that the bank was a "racist" bank and no bank wanted to be labeled a racist bank. That was just one of many ways the Democrats and a few Republicans twisted arms to increase subprime loans.
Every USSR needs its Pravda.
Various economics websites are predicting that this will lead to a new wave of mortgage defaults as those who have been paying their mortgages have finally figured out that they are the suckers who have played the housing game honestly, yet can’t apply for bailouts and revisions.
I’ve sent emails this morning to hundreds of my neighbors telling them that I expect them to immediately send me money to pay my mortgage, pay for my medicines, to pay my property taxes, to pay my income tax, and to provide me with monthly payments for doctors. I also will need stipends for wine, beer, and a summer vacation. Oh yeah, and I want a new car completely paid for. So far, it seems as though they DON’T like the idea.........................................
Sweeeeeet!
I want me some free stuffs.
I had been holding back on buying a new house till I could afford it, but I guess I was still thinking about Old America. I still remember when people saved for things and risked losing stuff if they didn’t manage their money well.
Sounds like the thing to do now, in New America, is just buy any house you like, get the bank to lower the principle after a few months of immediate non payment, then get laid off and take a 6 month vacation. Awesome man!
Oh yeah, this New America is going to be an economic juggernaut!
Ah Yes, good point, forgot about that ... The CRA was an abomination, but I guess we weren’t paying attention to the details were we.
The commerce clause sure needs some reigning in. It’s time we started doing the work the ACLU was supposed to be doing, instead they were inventing precedence to scuttle the Constitution.
“Obama readies steps to fight...IRRESPONSIBILITY.”
The law of unintended consequences... or perhaps with the current wreaking crew in charge, this is the intention.
Here’s my hate speech: I hate this administration. I hope there is a special hell for Obama et. al. Every day some doofus doctor comes in and removes a wide awake but unable to move Obama’s organ, pick one. He dies on the operating table, then the next day it happens all over again. The Ground Hog Day in Hell!
No surprise the WaPo does what the dims want - K. Graham admitted as much in her bio - she routinely got and used dim talking points for WaPo articles...’nuff said...
Well.... our house is paid for - should I take out a mortgage so I can be have Sugar-Daddy Obama take care of me?????
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