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Obama says Bail-out Bill Must Allow deadbeat Homeowners to Keep Their Homes
CNBC | 9/24/08

Posted on 09/24/2008 1:52:57 PM PDT by pabianice

Obama on CNBC now. Has announced that he and McCain are suspending their campaigns to deal with financial mess. Obama says Dems will allow no bail-out bill that does not let "all homeowners in trouble" to keep their homes. This seems to mean that those millions of deadbeats who took mortgages they knew they couldn't honor will get their homes on the taxpayers' dime. This seems even worse than the government taking possession of bad loans. It suggests excusing the loans. Also, bill must contain some sort of punishment for business executives.

If this is as Obama says, it seems unlikely that any bill will occur before January and that whatever bill passes will punish the responsible and hard-working. If Obama wins the election, then all bets are off.


TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: bailout; congress; economicpolicy; financialcrisis; govwatch; housingbubble; obamabiden
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To: Enchante

He is probably stupid enough to believe that promising a free house to people who can’t afford it, and letting taxpayers pay because those eeeeeeevil banks loaned them money will play well in REAL LIFE.

This is not liberal sunshine and lollipops time, but he thinks it is.

People are thinking actual money is coming out of their pockets on this one, and they need to know DEMOCRAPS caused it!


41 posted on 09/24/2008 2:05:30 PM PDT by Mr. K (Some days even my lucky rocketship underpants don't help)
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To: pabianice

Anyone seen a figure on what percentage of deadbeats are illegal aliens? Just curious.


42 posted on 09/24/2008 2:06:28 PM PDT by mewzilla (In politics the middle way is none at all. John Adams)
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To: balls

You believe Obama? Pa-leeze.


43 posted on 09/24/2008 2:06:29 PM PDT by GOP Poet
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To: pabianice

Well, whyever did I insist on buying a house I could afford when that real estate agent tried to push that “special” financing for that McMansion on me? It appears Obama thinks I should have bought the more expensive house and just quit paying for it but still be allowed to stay there anyway, geesh, too bad I cared more about what my parents thought about honor and integrity.


44 posted on 09/24/2008 2:06:29 PM PDT by kalee
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To: balls

And of course if Obama said it, it must be true.


45 posted on 09/24/2008 2:06:31 PM PDT by skeeter
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To: balls

who gives a sh!t about a JOINT STATEMENT. He said mccain told him he was going back to Washington to hopefully make sure that taxpayers don’t get reamed. McCain recommended Obama join him in Washington. But the haughty Obama is preoccupied with “other” things and “multi tasking” Meanwhile, one of the largest Chevy dealerships in the nation just shut their doors this afternoon as they cannot get consumers into loans on vehicles.


46 posted on 09/24/2008 2:07:40 PM PDT by johncocktoasten (Obama/Biden '08, in and of itself, A Bridge To Nowhere)
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To: SJSAMPLE

Me neither! Let those who overextended themselves crash and burn.


47 posted on 09/24/2008 2:07:50 PM PDT by dinodino
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To: pabianice

Ok, where do I sign up to let the government make my house payment? This is beyond stupid it is criminal.


48 posted on 09/24/2008 2:07:58 PM PDT by engrpat
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To: balls

OK, I’m kinda hoping you are playing ‘devils advocate’ here...


49 posted on 09/24/2008 2:08:02 PM PDT by Mr. K (Some days even my lucky rocketship underpants don't help)
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To: pabianice

Once this idea gets passed (which I’m afraid it will), do our insane politicians really expect that the market will fund future mortgages? Fat chance. If you eliminate the recourse for deadbeat borrowers, investors will simply find other places for their money.


50 posted on 09/24/2008 2:08:43 PM PDT by zacharycole
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To: GOP Poet

I am just reporting. You decide.


51 posted on 09/24/2008 2:09:10 PM PDT by balls (Never underestimate the stupidity of the American electorate)
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To: Mr. K

Watch the corrupt Democrats (responsible for the financial crisis with their gimme, gimme, gimme philosophy) add one goodie after another to the bill. Last I heard they even want to include credit for college students’ cars! Is no one responsible for his own actions anymore or is this already a socialist country?


52 posted on 09/24/2008 2:09:13 PM PDT by SouthCarolinaKit
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To: SouthCarolinaKit
or is this already a socialist country?

All it takes is good men to do nothing for evil to prevail.

53 posted on 09/24/2008 2:10:38 PM PDT by bayliving (Democrats used to be funny. Now they're just plain dangerous.)
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To: pabianice; All
Sorry if this is off topic. But what the heck was that little comment Barry made about his private plane with his logo on the side he can just “fly down to the debate” in? Who's paying for that? What a jerkarse!

On second thought...PRIVATE PLANES FOR EVERYONE!!!

54 posted on 09/24/2008 2:10:40 PM PDT by 444Flyer (Marriage=1 man+1 woman! Vote "YES" on Prop 8, amend the Calif. State Constitution this November.)
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To: SouthCarolinaKit

You’ve combined a few things -

it was car loans,
student loans,
AND credit card debt.


55 posted on 09/24/2008 2:10:53 PM PDT by MrB (0bama supporters: What's the attraction? The Marxism or the Infanticide?)
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To: pabianice

Obama says Dems will allow no bail-out bill that does not let “all homeowners in trouble” to keep their homes.

I can see a revolution brewing if the Dems try to go through with this. On the corporate/banking side I can see lending come to a complete halt, the housing market fail completely. You think it’s bad now just let this thinking prevail


56 posted on 09/24/2008 2:10:58 PM PDT by Joan Kerrey
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To: Mark was here

Lol you guys must think the law applies in Philadelphia, where both sheriff and judges are elected. For example, it is near impossible to get a Philadelphia judge to enjoin a labor union to stop anything no matter how outrageous.


57 posted on 09/24/2008 2:11:02 PM PDT by Williams
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To: Mr. K

I was playing MSNBC reporter.


58 posted on 09/24/2008 2:12:22 PM PDT by balls (Never underestimate the stupidity of the American electorate)
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To: Travis T. OJustice

I’m ashamed to say I have only 85K debt remaining on a 330K purchase. I should have planned to walk away from far more...and now it is too late.

I wonder if I can get a home equity loan, and pass it off to the other taxpayers...


59 posted on 09/24/2008 2:12:45 PM PDT by Mr Rogers (Mav & the Barracuda vs. Messiah and the Mouth)
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To: A_Former_Democrat

That sounds like an AWESOME game plan. Let the sheriff’s office pay for the homes. Right on!


60 posted on 09/24/2008 2:12:51 PM PDT by GOP Poet
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