"Let's Keep People In Their Homes" (Hillary Clinton wants new Home Owners Loan Corp. - HOLC)

The Wall Street Journal (excerpt) ^ | September 25, 2008 | Hillary Rodham Clinton

[HAL9000]

Excerpt -

There is a broad consensus that Congress must act to stave off deeper turmoil on Wall Street. Irrespective of the final agreement yet to be reached, there are several principles that must be part of a broader reform effort that begins this week and continues in the coming months.

~ snip ~

I've proposed a new Home Owners' Loan Corporation (HOLC), to launch a national effort to help homeowners refinance their mortgages. The original HOLC, launched in 1933, bought mortgages from failed banks and modified the terms so families could make affordable payments while keeping their homes. The original HOLC returned a profit to the Treasury and saved one million homes. We can save roughly three times that many today. We should also put in place a temporary moratorium on foreclosures and freeze rate hikes in adjustable-rate mortgages. We've got to stem the tide of failing mortgages and give the markets time to recover.

~ snip ~

[Nailbiter]

Hillary’s “Home Owners’ Loan Corporation (HOLC)”

yeah sure I want govt run mortgage company, not like they didn’t screw the pooch the first time.
Hillary apparently did not get big enough bite of financial first time around.

Or maybe her friends just kept her slice of the pie

[Jim Robinson]

Like a snowball headed to hell. ~~Merle Haggard

Once the socialist snowball starts rolling, there’ll be no stopping it.

[KDD]

Merle Haggard - Are The Good Times Really Over

[Roy Tucker]

“I’ve proposed a new Home Owners’ Loan Corporation (HOLC)”

What a stupid idea, Hillary. How much of the economy do we want in public hands?

[Carley]

bubba and bubbette can begin by lending out their one hundred million dollars to the poor homeowners.

[raybbr]

Theoretically though, couldn’t the govt take it back from the crooks later, via law suits and fines? I mean, the immediate goal is to plug the hole and stop the ship from sinking, we can always take the captain to court later.

The ship hasn't sunk yet. It's been over a week and the ship's still sailing on. When is the "imminent" collapse supposed to take place?

BTW, on Sunday Paulson said that if we make the plan to "punative" by limiting salaries and bonuses for the CEO's involved they "might not sign up". Under what conditions could these NOT sign up if the disaster is so "imminent"?

I believe this whole thing is a sham.

[freekitty]

Get real, Hillary. It’s people like you who give America a bad name.

Go home and leave us alone. We are sick of you.