Is Obama about to forgive billions in mortgage principal?

Hot Air ^ | 8/5/10 | Ed Morrissey

[Vigilanteman]

This fiasco brings back memories.

Rejected
FDR at the gates of Hell

A stranger stood at the Gates of hell
And the Devil himself answered the bell.
He looked him over from head to toe
And said: My friend, I'd like to know
What you have done in the line of sin
To entitle you to come within?

Then Franklin D, with his usual guile
Stepped forth with his toothy smile and said:

"When I took charge in '33
A nations faith was mine," said he
"I promised them this and I promised them that
And I calmed them down with a fireside chat.
I spent their money in fishing trips
And fished from the decks of their battleships.

I gave them jobs in the WPA
Then raised their taxes and took it away.
I raised their wages and closed their shops
I killed their pigs and buried their crops
I double-crossed both old and young
And still the folks my praises sung. I taxed it so high they couldn't drink.
I furnished 'em money with Government loans
When they missed a payment I took their homes.
When I wanted to punish the folks, you know
I'd put my wife on the radio.

I paid them to let their farms lie still
And imported foodstuffs from Brazil.
I curtailed crops when I felt real mean
And shipped in crops from the Argentine.

When they started to worry, stew and fret
I got them to chant the alphabet
With the AAA and the NLB
The WPA and the CCC.

With these many units I got their goats
And still I crammed it down their throats.
My workers worked with the speed of snails
While the taxpayers chewed their fingernails.

When the organization needed dough
I closed their plants with the CIO.
I ruined jobs, I ruined health
And I put the screws on the rich man's wealth.

And some who couldn't stand the gaff
Would call on me and how I'd laugh.
When they got too strong on certain things
I'd pack and head for "Ole Warm Springs."
I ruined their country, their homes and then
I placed the blame on "Nine Old Men."

Now Franklin talked both long and loud
And the devil stood and his head he bowed.
At last he said: "Lets make it clear
You'll have to move, you can't stay here
For once you mingle with this mob,
I'll have to find another job."

[antivenom]

The guy losing his job is not exactly a “choice” now is it?

++++++++++++++++++++++++

Continuing to pay for a house is his choice...he could let it go...take his loss and allow the house to be bought by someone else...

choices, aren’t always fun and rewarding...

[SoFloFreeper]

I won’t argue on that the rebates were good....they weren’t. They were the best Bush could do with a Democrat congress, though.

BTW, Bush did those rebates after his re-election, so he wasn’t buying votes.

Like I said, Bush wasn’t perfect, but what B.O. is doing is so much worse...it is like comparing an ant hill to Mount Everest. Seriously.

[longtermmemmory]

I doubt they will forgive.

Obama will have a claw back for the “forgiven” principle when the house is sold or inherited.

IOW a private property grab.

[cranked]

Impeachment of this idiotPOTUS needs to happen ASAP.....like now. =.=

[Varsity Flight]

+++++ NO trust will be involved in making contracts and promises +++++

Correct.

[dusttoyou]

Shoe polish might help.

[longtermmemmory]

Do they even allow that story in public schools?

[avacado]

What do they mean “forgive?” People are going to get their entire house/mortgage for free?

[Daisyjane69]

Oh wow. Never thought of that one.

Good grief.

[longtermmemmory]

this would be inflationary. (see cash for clunkers)

[Buckeye McFrog]

wholly predictable....the election is coming up fast and as their polls crater they are in full-blown panic mode....look for more populist giveaway programs to follow.

[paul51]

But I know for me, it would have a huge impact on my current financial situation.

If I had to pay off your loan that would have a huge impact on my current financial situation

[Darkwolf377]

W started the current trend of vote buying

When did the previous 'trend of vote buying' end?

This has been going on in every administration for a century, without exception.

[Arlis]

So, your thinking is, “If this saves me personally, but destroys the rest of the nation, that’s ok....”

Isn’t this the very mentality that is giving the libs all the power they need to destroy us?

Shouldn’t my attitude/thinking be, “If I go down, so be it. Rather I go down than the whole nation....” Isn’t that the attitude of our founders?

When self-proclaimed conservatives have this attitude, we’re doomed.

IMHO.

arlis

[avacado]

Your home wouldn't be underwater if Obama and the Democrats weren't giving everything away for free. They are killing the free market and suppressing values.

[Arlis]

So, your thinking is, “If this saves me personally, but destroys the rest of the nation, that’s ok....”

Isn’t this the very mentality that is giving the libs all the power they need to destroy us?

Shouldn’t my attitude/thinking be, “If I go down, so be it. Rather I go down than the whole nation....” Isn’t that the attitude of our founders?

When self-proclaimed conservatives have this attitude, we’re doomed.

IMHO.

arlis

[Moonman62]

W did rebates multiple times including during his first term when the GOP controlled everything. His mantra was “putting money in the pockets of consumers”. The only only phrase he repeated more often was “doing the jobs Americans won’t do”.

[Arlis]

So, your thinking is, “If this saves me personally, but destroys the rest of the nation, that’s ok....”

Isn’t this the very mentality that is giving the libs all the power they need to destroy us?

Shouldn’t my attitude/thinking be, “If I go down, so be it. Rather I go down than the whole nation....” Isn’t that the attitude of our founders?

When self-proclaimed conservatives have this attitude, we’re doomed.

IMHO.

arlis

[RinaseaofDs]

He’s going all in, and so are the socialists. They are betting that rank and file idiots are going to vote D so that they can get their free Obama money.

They’ll win that bet.

Full scale class warfare. What’s more, the billionaire liberals are lining up, as are the tort lawyers, and the unions.

Never underestimate people’s loyalty to who they are. Deep down, most Americans are ignorant idiots, and they are afraid. In the end, fear and ignorance are easier than bravery and becoming truly educated. Decades of indoctrination are about to pay off.