ARE---------------YOU---------------SERIOUS---------------MCCAIN?!
This is wrong on so many levels, but the six most troubling questions/concerns that pop in my mind are:
1) The U.S. Government will be buying what they admit will be inflated homes directly from stressed mortgage holders.
2) What effect will this have on the 92% of mortgage holders who are paying on time? - even while the value of their homes are falling off a cliff and they are becoming more upside down as each month passes.
3) In which markets will you buy these troubled mortgages?
4) Who will determine what the price of the home should be?
5) Who will eat the losses between what is owed on the current mortgage balance and the new and improved number arrived by Dictator Paulson and his successor?
6) If a contract is a legal agreement between at least two parties enforceable in a Court of Law - how will this precedent affect all other contracts?
Gee - McCain, do you think you might encourage a fairly large percentage of homeowners to default??
Moron.
McCain and his new pitbull, Sarah Palin, had a golden "maverick" opportunity laid out on a golden "maverick" platter to oppose the horrible bailout plan and sit on the side of 99% of the constituent calls/letters/faxes/emails that poured into Congress and yet he chose to fold an unbeatable hand which would have polarized him vs. with his opponent, Obama and Nancy Pelosi and Harry Reid, Gay Barney and a very unpopular and un-Conservative President Bush
I bet Sarah Palin, in private company, opposed the hell out of that ridiculous bailout debacle. She would have been the perfect person to fire up his base, AND convert lots of pissed off Independants and democrats to McCains side.
Game. Set. Match. President Obama.
I am pretty sure that you are no expert economist or understand what McCain’s proposal is fully about.
Nice to see you spewing DU talking points on this forum straight?
The bailout is already passed, move on fool.
Bush didn’t do well in his debates and he got elected. The fact is that these “debates” just aren’t that important. The only ones who live and die based on them are the voters who are already decided and invested emotionally in their candidate’s victory. THis is nowhere near over. There are too many unique factors in this election to suggest that a pattern based on the past can be predictive of Nov. 4th.
Well, in all fairness, McCain just proposed doing what Fannie Mae does: Buy mortgages from banks and other lenders and then sell them to investors. If anything, he proposed maintaining the status quo, which is bad enough.
"I would order the secretary of the Treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes at the diminished value of those homes and let people be able to make those payments and stay in their homes," he said.
"Is it expensive? Yes. But we all know, my friends, until we stabilize home values in America, we're never going to start turning around and creating jobs and fixing our economy, and we've got to get some trust and confidence back to America."
http://apnews.myway.com/article/20081008/D93M1JKO0.html
Take your defeatist garbage and publish it on Democratic underground please.
What he’s talking about much worse is in the bailout passed and signed http://www.theusmat.com/
Thank you for bringing this up.
I am so incredibly upset by this I can’t see straight.
McCain has lost my vote. I reject that man outright, whereas I was weakly supporting him before.
Not president. Never president. Not in your wildest dreams will I call the Marxist Obama president.
Comrade Zero Comrade Zero Comrade Zero Comrade Zero
Comrade Zero Comrade Zero Comrade Zero Comrade Zero
Comrade Zero Comrade Zero Comrade Zero Comrade Zero
Not my president. NEVER