Posted on 09/26/2008 8:18:40 PM PDT by dila813
John missed an opportunity to call Obama out and have him try to defend giving 700B to Wall Street.
He had a chance to introduce a new plan, but didn't.
I say no to bail out, force these people who bought these houses to live in them and pay for them.
Extend their terms to 50 or even 100 years if they need to.
You and I know, there are people who are walking away from their houses because they don't have a stake in the game.
They purchased houses far away from the city, then the value of their house crashed. They were tired of driving the long distance, and without the possibility of a pay off when they sold their house, they chose to walk away.
Ultimately, there are people that purchased multiple houses, those people obviously can't pay for them if they were speculating on flipping the house. Sometimes you make money, some times you loose. These people should be responsible for these houses up to a level that their income supports, they shouldn't get to walk away scott free.
The only government involvement should be to insure a longer term loan with enforcement of the borrower.
There may be a need to provide debt portability for people that need to move for employment, these people should carry this personal debt with them to their next house. Same thing happens when you trade in a car you are upside down in.
If the person was deceived, prove it and use the courts -- otherwise pay up.
This is what you call a Bail out plan financed by the Borrowers.
$560,000,000,000 to Wall Street
$140,000,000,000 to the socialists, crooks, and communists of ACORN
Big, big, big missed opportunity.
The Republicans need to attack the class warfare item of giving tax cuts to ‘95% of Americasn’ and ‘raise the taxes on the wealthy’ by pointing out succinctly that rasiing taxes on businesses is passed right along in higher prices to those receiving these mythical tax cuts.
Small legal problem. Thirteenth Amendment, United States Constitution.
I agree that McCain could have used the opportunity better to strongly squash the Paulson takeover.
However, he did briefly mention not agreeing with the idea of the Fed buying up these bad mortgage packages. It appears he is indeed on board with House conservatives.
...and the kids and the dog should worry that they’re the topic of the next garage sale...
He’s gotta save something for tomorrow.
No problem there, these people walked away and are spending the same in rent money to live closer to the city.
It isn’t that they can’t pay, it is they don’t want to pay and are just walking away.
I had the same thought. It was an opening big enough to drive a truck through, and he missed it. And his initial response on this question was awful, I thought. No emotion, soft-spoken. If he had been as fired-up on this one as he was on a few later, it would have come across much better.
He could have had BHO in a defensive posture right out of the gate. Oh well.
Your solution is to make George Bailey's Uncle pay back the misplaced deposit, no matter how long it takes him. But it does nothing to help the run on the savings in loan. Without Mary's offering up the honeymoon money, the savings and loan would have closed and the town would have ended up as Pottersville.
Yes, there were bad loans made. There are people walking away from the loans, but don't excuse the loan companies for making predatory tactics, abusive ARM's or outright fraud in the information they provided to underwriters. But that doesn't solve the liquidity crisis.
There are Potter's out there hoping the economy crashes so they can buy our assets for penny's on the dollar. Liquidity crisis are not new they happen around the world quite frequently and there are ways out of them.
We just need to be sure that we do it in a way that it's a liquidity rescue plan and not a bail out.
Yes, he didn’t seem prepared to make a case for a direction.
In other words, “he wasn’t prepared to lead”
Neither was Obama, he could have really stole this election if he had been prepared.
agreed...he shoulda hit harder how he backed the congressional Repubs to move the price tag away from the taxpayor and onto Wall Street...
No McCain couldn’t use that while negotiations are ongoing. It would have been the equavalent of nuking already contentious negotiations, no agreement would have been reached and the economy would have failed.
Once again McCain did the right thing in not making a bigger issue out of it for the good of the country.
Yes, I left that out in my post above, of course you will have to in some cases cut the interest rate.
But it is the principal that matters, not the interest rate.
As long as the principal is saved and not allowed to be destroyed, the market won’t melt down.
So many opportunities lost on the economy questions. After the drama of this week, halting his campaign, getting back to DC to solve it, etc. It was very anti-climactic. I expected a lot more meat from McCain.
Well I don’t agree, they are ramming this down our throats and no one is allowed to speak up.
That is Russia, not the US.
I hear 95% of “working families” which leads me to wonder what the definition is of working family.
That is what I was looking for, I thought he came with a loaded quiver.
I was waiting for the ACORN to Drop, and it isn’t even considered a earmark.
How could he let that go?
As others have noted: For McCain this was an opportunity lost.
Tax cuts kill business kill jobs kill people.
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