[sickoflibs]

Maxine Waters is another one of my favorites, along with Pelosi. Here she proposes a bill that would require lenders to make loan modifications to keep homeowners in their homes prior to for-closure (???already losing me), by reducing principle owed, or reducing interest rates and asserts three times that no-one has to lose money on the deal. To his credit the host tells her :” Writing down the principle IS losing money” and being caught she responds with “the houses were overvalued anyway they are not worth what is owed”

Maxine you moron, if I bought a car and it was repossessed because I stopped payments and the card dealer (mean the lender) sued me for his loss on my car loan, would Maxine say I owe him nothing because the car was overvalued when I bought it?

Then she is asked about people who are actually willing to pay their loans back, if her bill is a moral hazard to them/us, she replies "The ones defaulting were tricked..." but not us responsible ones apparently

Video at : Waters: People Who Signed Mortgage Loans Were "Tricked

Maxine the Marxist. Didnt McCain propose something like this in 2008 using TARP funds?

[ding_dong_daddy_from_dumas]

Maxine you moron, if I bought a car and it was repossessed because I stopped payments and the card dealer (mean the lender) sued me for his loss on my car loan, would Maxine say I owe him nothing because the car was overvalued when I bought it?

It's the same principle, but the big money is in mortgages -- That's a quicker way to destroy capitalism than modifying car loans.