“I think you will find that more than 95% of people that didnt buy more house than they can afford dont want to subsidize some other idiots mistake when they still gotta make their OWN house payment. I bet a very high percentage of concious homeowners vote too.
Be sure to keep the counter argument in mind because it is a very good argument. It has to be addressed and discredited on a national scale by a prominent Republican.
By stabilizing foreclosures, housing prices and the housing market in general stabilizes. This leads to toxic assets held on Wall Street and banks all over the country becoming less toxic. This improves balance sheets and leads to a credit UNfreeze and money moving again. Improved credit = an improved economy. That is the argument. Is it right? I have absolutely no idea. I just know it is the argument.
So I say for the national Republicans to drop the I paid my mortgage now you pay yours line and address the REAL political game being played.
If we cant counter the argument above, we lose.”
One item the Republicans need to focus on is that for the homeowner bailout, the homeowner apparently gets to keep any future upside when home values go up. That is wrong and is NOT consistent with the adminstration cracking down on executive salaries at banks that receive federal money.
Any future upside should not be realized by the owner until the government has been paid back. Seems to me to be pretty obvious provision. Wonder why it wasn’t included?
“One item the Republicans need to focus on is that for the homeowner bailout, the homeowner apparently gets to keep any future upside when home values go up. That is wrong and is NOT consistent with the adminstration cracking down on executive salaries at banks that receive federal money.”
That is exactly right. But let me be the devil’s advocate here.
The sheeple voters just saw a Republican administration bailout Wall Street with a TARP and 2 trillion Fed Reserve guarantees and loans. They saw Wall Street bask in years of profits on taking risks and then had their losses from these same risks socialized. All upside, no downside.
So in this respect I can see how the Dems will counter your argument in a heartbeat as hipocrisy. No matter that it was the Bush administration and not the Congressional Republicans, sheeple see them as one.