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.
Barry’s not the least interested in ‘ALL’ people who have defaulted on their loans. He’s only interested in the ACORN, ACLU, ‘in their faces’ pushers of a flawed agenda to right perceived wrongs. Obama is an insult to hard working Americans so I think that appropriately leaves his bunch behind.
REALLY!!!
I better go out and max my credit card to it's limit!!!
Wooo Hooo! Hello 52" LCD HD TV and surround sound system to go with it and all new kitchen appliances and and .........
NO!!!
NO to FREE HOMES!!!
Me and my wife ate MACARONI AND CHEESE!
We drove 5+ year old rigs!!
With quarter tanks of gas most of the time!!
BUT WE PAID OUR MORTGAGE!!!!!!!!!!!!!!!!!!
NO!!!! to FREE HOMES!!!! PERIOD!!!!!!!!!!
The way I hope it will be looked at will be, Obamanero wants to debate and Fiddle while America burns.
McCain says just delay the debate, whats your problem Obama, is the economy not enough to warrant full attention from Obama.
Quite clever here, McCain is going against Bush, kicking Obama in the balls who says he’s another Bush while at the same time kicking Obama’s ass in looking like a wuss who doesnt want to deal with the economy and thats the be all here, Obama does not want to touch the economy period.
Yeah, this is typical liberal bullsqueeze -
“go, be irresponsible, we’ll use the government to make the responsible chumps over here pay for the consequences”
I agree. It is time for action, not words.
Sorry for the multiple posts. Freeping from my Treo. Blame Sprint. ;)
you must have been a journalism major and intern at NBC, if your post is what you call 'just reporting'.
Talk is cheap. It is time for action, not talk.
His argument that a president should be able to multi-task is very hollow. Crisis need your full attention. Can you imagine NY after 9/11 if Rudy had to deal with garbage workers strike? He would have used a court order to get them back to work so he could focus his attention.
Foxnews : Reid told McCain not to come back to DC because he won’t be helpful???
Reid cannot tell McCain to stay away, McCain is a senior sitting Senator who holds sway with an enormous amount of senators, thats more than Reid and Pelosi can do.
Reid is just worried McCain will actually make them do something.
Right now, if McCain wants to hold up this bailout, he can and will, next move Reid.
No, it’s that he doesn’t know how to deal with important issues. He needs a teleprompter to read to know what to say. McCain has once again shown the natural ability to lead by deciding our country’s economic woes are more important than campaigning.
See #49 and lighten up a little.
Everyone needs to take a deep breath. The proposal on the table is that mortgages be rewritten to real market values and real interest rates. If folks can't pay THAT then they get tossed. If they can, the mortgage gets rewritten and the idiots that made the mortgage or bought it lose.
I don't think that is entirely unfair to either side. If we toss the current occupants out and put the houses on the market, condition will deteriorate, and we will have vast neighborhoods of derelict and decaying houses that will be worth little more than the vacant land less the cost of clearance.
Remember that there were multiple idiots and scoundrels in these transactions, not just the idiot buyers. Builders, developers, real estate brokers and local pols were on the take too.
OTOH if it is not a primary residence, but you just bought to flip, then they ought to take the house and all your other houses and clean out your bank accounts and put you on the street.
Does anyone remember that on July 30, 2008, President Bush signed a $300 billion dollar house rescue bill?
It begins taking effect on October 1st.
Here is a link to refresh everyone's memory:
http://money.cnn.com/2008/07/30/news/economy/housing_bill_Bush/index.htm
Obama says Dems will allow no bail-out bill that does not let “all homeowners in trouble” to keep their homes.
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Whew!!!!! Thank God for the Dems. I may not lose the 5 houses I bought for nothing down after all. For awhile there I thought I might even lose my $500,000 main home that I was tricked into through nothing down and $20.00 per month for 6 months. They didn’t tell me there would be an adjustment. Hey, try making mortgage payments on $500,000 when you only make $25,000. It’s just not fair but the Dems are coming to the rescue. Now that housing is solved what are the dems going to do with my high grocery bills and my gas bills and I hope they don’t bail out auto companies without suspending my car payments? What’s good to fix housing should also apply to autos. I demand relief now or I’m just going to take what’s rightfully mine by force. It’s my right. /s
I went to the Government Cheese Store and all I got was this House.
This has the be the single biggest welfare scam and boost to the Democratic party of all time.
First Dems MADE lenders loan to credit and income challenged individuals or lose their charter.
Then they blame Wall street, evil capitalists and Republicans for the problems.
Finally they will bail out their poor and irresponisble constituents and look like the good guys.
Wall Street, who they bad mouth in public, will love the RATS too (see Obama’s coffers)
“”But the haughty Obama is preoccupied with “other” things and “multi tasking” “”
I believe he said that a president has to be able to handle more than one task at a time. Maybe he can tell us how many days he has spent in the Senate in the past 20 months!!
Why did he call McCain this morning if he wasn’t ready to do exactly what McCain is doing? Supposedly so they could issue a “joint statement” on the financial crisis? I don’t believe a word out of his lying mouth.
What they did not count on was the FEDERAL GOVERNMENT raising the Federal Funds rates every other month for something like 27 months (depending on how you count which rates were raised) and allowing LIBOR to rise so high that those folks got kicked into 7.5% and higher mortgage rates ~ and that's within a three year period.
The FEDERAL GOVERNMENT kept raising the rates to fight the rising cost of oil as if that cost were a consequence of normal inflation occurring only within the bounds of the United States.
Obviously that didn't work ~ particularly when nothing short of an act of war which included the total incineration of one or more national capitals would have convinced the oil producing nations to CUT their prices and RAISE their oil production.
If you have a problem with your neighbors who just lost their house, and all their equity, I suggest you take it to your Congress critter and tell him to strip the Federal Reserve of its authority over money, and, BTW, reimpose the prohibitions on usury.
New plan: take the payoff money, and invest in a zillion dollar vacation property in, say Aspen or Jackson WY. 'Course I could never afford the payments, but, hey with this bailout ...
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