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.
Typical bitter insensitive Republican!!! You got yours so to hell with all those less fortunate who were taken advantage of!! < /sarc >
Nice try but the RATS aint THAT stupid.
If you have any capital assets or investments you will be ineligible. If you made regular payments and only defaulted recently you will be ineligible. If you have income you will be ineligible.
This will be just for poor borrowers. e.g. The RATS constituents.
They are walking away from them, and that only adds to the glut.
The people in this boat did absolutely nothing irresponsible.
Never forget this happened under a Democrat Congress. They did it. The Corrupt Pelosi Machine now running the House of Representatives is 100% responsible for this.
I'll only have a problem with them if they expect me to pay for their penury. As for taking it up with Congress, Congress is the problem, not the market.
The other thing is that McCain and Obama are both part of the congress and should be there sorting it out.
I think Obama forgets he is the junior senator from Illinois, McCain hasnt forgotten hes the Senator from Arizona and besides, McCain should say, let the VPs do their debate first on Fri while myself and Obama go to Washington.
What makes you think they won’t take over the banks and FED too abbreviating your ideas about recalcitrant lenders? We’re halfway there already.
You'll walk away from your mortgage.
I am in luck then!
I just got laid off this past Friday and currently have NO income coming in.
So I guess I will be eligable then?
Don't worry about me just yet though, my wife and I have enough money to get us through a couple of months of us both not working so I am ok for now and I should have a job by the end of the week.
Nope! I am in Houston, Texas and the economy is growing. My house just keeps going up in appreciation value and there has been no spike in foreclosures in my area or much of Houston for that matter.
But thanks for your negativity without knowing the facts.
I can see the ad now:
Distraught husband: The plant closed today because the bank called the companys line of credit without notice. I am out of a job and I dont know what were going to do.
Comforting Wife or Domestic Partner: Well, we do have this statement from Barack Obama. And hes going to be in a debate on Friday night.
Voiceover: Barack Obama, when the worlds goin to hell, you can hit him on the cell.
No doubt you are benefiting from the recent housing shortage in the Houston/Galvaston area.
Thanks for being a voice of reason in the hysteria that prevails.
Regards,
EEDUDE
Believe me I’d love to do it too. I got two brand new empty houses sitting in Broken Arrow OK. One at $450,000 one at $525,000. I bet dollars to donuts builders won’t be saved. I’ll probably end up losing my modest home as it’s a personally guaranteed albeit paid for.
I am not a socialist.
I am not a supporter of the homosexual agenda.
This govt. is getting out of hand. What ever happened to the free enterprise system?
Time for a revolution? Getting close.
Gee, I never bought a house because I couldn’t afford one. Silly me!
Agreed, the problem is that lenders cannot afford to foreclose upon houses that they can't sell because of a hugh glut in the residential real estate market and a series credit crunch that prohibits buyers from buying the foreclosed properties.
Because you are an honest person!
His most important statement was, “now is not the time to point fingers”. Interesting he should say that when he is up to his ears in the scandal.
Pray for W, McCuda and Our Troops
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