Posted on 10/07/2008 9:04:34 PM PDT by jddqr
I can’t underscore enough what a rotten idea John McCain’s ACORN-like government mortgage buy-up is. I said it during my liveblog. And I’ll say it again: “HE WANTS TO EXPAND THE BAILOUT. He wants to do what ACORN wants to do. We’re Screwed ‘08.”
This was his supposed “game-changer.” This was the very first thing out of his mouth during the debate tonight — his big pitch right off the bat. The McCain campaign immediately sent out this fact sheet on the proposal, which will cost at least $300 billion. The proposal involves directing the Treasury Secretary to “purchase mortgages directly from homeowners and mortgage servicers.” That’s on top of the trillion-dollar crap sandwich, the $85 billion to AIG, the $25 billion to automakers, the $200 billion in capital and credit lines to Fannie and Freddie, and who knows what else we’ll be forking over to California, Massachusetts, etc., etc., etc.
He spent the entire debate assailing massive government spending — while his featured proposal of the night was to heap on more massive government spending to pursue home ownership/retention at all costs. If Obama had proposed this, the Right would be screaming bloody murder about this socialist grab.
(Excerpt) Read more at michellemalkin.com ...
It's going to ANNOY those that don't like what I'm saying, and that's my point!
How "Reaganite" is this? how "Republican" is this?
"Republican" used to mean Conservative.
I also note that this site is an "independent Conservative forum", not an RNC run or GOP-sanctioned forum. Just some key points to keep in mind here.
God Bless Sarah Palin anyways......
What happened around me is MANY people cashed out the equity right at about the height. So, they cashed out and made a quick 150-200k.
And what did they do? Did they modestly upsize? Nooooo, they went balls to the wall buying 700, 800 and 900k homes.
What happens in that case? They get the loan reset and live in their McMansions close to mortgage free?? (not that they'd ever have that sort of impulse control)
The problem is the 300 lb gorilla in the corner no one wants to talk about. Most people can not stop spending. They are credit addicts. They aren't victims, they are the problem. In the majority of cases.
“should be priced at a level affordable on the median income”
Are you stupid. The price of a house should be what ever a willing seller is willing to sell it for if they can find a buyer at that price. THERE IS NO OTHER ANSWER. I don’t care if NOBODY can afford to buy. TOUGH.
I fear for you. Your post is the DUMBEST thing I have ever read. It is pure socialism. It is mandated price controls.
McCain didn’t do anything different since Palin was his VP pick.
He’s getting killed in the polls because morons think the Stock Market crashing is McCain’s and the GOPs fault.
We can fight McCain when he is in there, but Obama will have full power - all 3 branches of govt with bigger majorities.
Now THAT I agree with. The Republicans really aren't much different than democrats. In my life time alone, I can see all the freedoms we lost through political correctness. People are punished for expressing them selves or choosing their beliefs freely. Their land is controlled by someone else. Their kids are little dollar signs, and our paychecks are the property of the federal government. This list of freedoms lost goes on and on.
Not the tagline. We must start to act QUICKLY the day after the election.
“My dear friend if it was impossible to determie home vaues no one could buy or sell and no one would realize their house value has dropped below the mortgage amount, market appraisals are perfectly commonplace.”
You are insane. The value of a house is the price it will sell for. An appraisal is a guess. Taking a mortgage off a lenders books????!!!! Do you know what you are saying???
“Note the tagline”, actually....
I am woefully unhappy with McCain. However, I vote by absentee ballot. I received it today, filled in the McCain/Palin oval and mailed it in.
There’s a point where you stick your head outside the window, and you say “I’m not gonna take this anymore!”
I didn’t leave the GOP, the GOP left me.
“God Bless Sarah Palin anyways.....”
I’m with that but McCain is making it harder to vote the ticket every time he opens his pie hole.
If he could be thrown off the ticket, Sarah promoted to the top, and replaced with Hunter we would have a winning ticket.
I am just posting the plan. I am not sure where it is outside of normal business. Is it not better to have a paying loan versus a forclosure? I am not sure why the government would be involved minus the FHA loan. But those exist already? If someone could figure out what the government is putting into the deal in terms of money, that would be a good piece of info.
Conned is the wrong word, they are either stupid, illiterate, or both.
The democrats actually went out and recruited them. Senator Chuck Shumer (D) of NY made it a political mission. ACORN got out the bogus home loans the same way they got out the bogus votes.
“That plan has many of the elements of a proposal by Rep. Barney Frank, D-Mass., and Sen. Chris Dodd, D-Conn., requiring participating lenders to forgive part of the loan principal and then write a new loan that would be backed by the federal government through the Federal Housing Administration.””
Please read what you posted. A person signs a loan contract then can’t make the payments and goes running to the government and the government crams down the loan? Are you nuts.
Those were the good old days. That's when the party actually stood for something great.
I am not nuts. I believe I have posted the plan as found on the McCain web site. I for one do not understand the basis of why banks could not already write down the original loan and redo a new one.
“. I for one do not understand the basis of why banks could not already write down the original loan and redo a new one.”
They can if they want. McCain is forcing this on them. YOU ARE PAYING FOR IT. There is no point in re-doing a loan for a dead beat.
All 4 powers - the Supreme court.
Imagine the far left wing socialists in charge of the house, senate, presidency, and supreme court. There would be no checks against their power. The U.S.A would soon become the U.S.S.A and no one could stop it.
No one is reminding the voters of this.
Do you believe the nonsense on this thread. What a bunch of socialists and econ 101 total failures. McCain is an idiot.
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