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Aw, shucks. |
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Posted on 10/07/2008 8:14:19 PM PDT by cdchik123
WASHINGTON (AP) - Republican presidential candidate John McCain is proposing a $300 billion program for the federal government to buy up bad home mortgages and allow homeowners to keep their houses.
(Excerpt) Read more at apnews.myway.com ...
I too wonder the same. Out of this entire great nation of ours, how in the hell are we left with THESE two people to choose from to lead us.
If 0bama wasn't so bad, I'd write in "none of the above".
Is it too late to go out and buy a ritzy place on a variable-rate loan and get it re-financed AND the principal whitled down by Uncle Sam aka The Monopoly Man Guy? HE has a top hat, a moustache, and ccasionally a monocle. If he is wheelin’ and dealing to bail out the stupid at the expense of the responsible, maybe it’s time to switch to stupid.
Yep, two hours later, and I’m still steamed. Palin, I am so sorry for you being saddled with this man.
Yep. This is a disaster. And his advocacy of cutting Social Security benefits. Uncle Sam is going to own your mortgage Sheesh!
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Aw, shucks. |
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Boy, McCain had better clarify this, and quick. This is really trying to out-liberal Obama. This was the one big glaring mistake McCain made tonight. This was awful, just awful.
Let’s just try to keep a reliable filibuster in the senate. Please.
I think it’s in there now permitting the renegotiations to be done. But there’s a big difference between that and telling 75 million—or however many there are—homeowners tonight that if they stop paying there mortgage and can demonstrate that they’re underwater on it, Uncle Sam is gonna be their sugar daddy!
This $300B gift that McCain is planning is strictly to reward people who engage in irresponsible behavior.
John, John, John, when will you learn that you can’t possibly out-liberal a true-to-the-rotten-core MEGA-LIBERAL?
Please try to not totally turn off your base - it would be nice if some of us showed up and voted in 4 weeks...
If you think that the impact of attracting a few more so-called undecided moderates/liberals through Evita-like displays of charity at the public trough is worth more than your entire conservative base, you are into super-denial and delusion.
DON’T TOTALLY BLOW IT!
Yeah that part really sucked. Who ever the hell came up with that idea needs to be fired. It was stupid. McCain giving lip service to Kennedy and Democrats needs to stop. Doesn’t he realize what the lay of the ground is out here? I’m going to take a deep breath and leave it as is.
Somehow I don’t think the ‘senior moment’ card is going to work here.
I am now convinced this is all a grand plot to get us back to conservative politics by allowing the complete demise of US solvency. In the end, we quit paying on the treasury notes and bonds, government becomes paralyzed, everbody quits buying bonds and treasury notes becuase they are no longer any good and the government ceases to have any power. The budget deficit dissapears, no more entitlements and all is well.
I really cannot think of any other outcome, so maybe it is the grand plan. Maybe it was George Bush’s ultimate master plan. Cut taxes, increase spending start a war and bankrupt the totaly currupt government.
Not really a bad idea.
he never was. Bush never was. that is the Republican problem. :(
He doesn’t understand what people are angry about with the $700 billion bill—or he certainly would not have suggested this! I want to see one of his economic advisers come out and credibly defend it.
“McCain would buy bad homeowner mortgages”
Small gov’t conservatism in the U.S. is already dead, McCain just kicked the last little bit of dirt on it.
Why do you classify this as dumb. That was my first reaction too but, after a little thought, I'm not sure.
The $700B is to be spent to buy up bad paper which, at least as I understand it, are the packages of good & bad mortgages put together with an unknown value. It is also my understanding that the government would be able to buy these at a pretty steep discount to help with liquidity (since now valued at near $0). It has been stated that we stand to make a potential profit on re-sale once segregated.
If this is true, the government would own home mortgages that could have a face value of more than the home is currently worth. Either the Government could stick with the existing mortgage and hope the homeowner continues to pay and wait for the home value to go up/principal to go down and then re-sell it or they could try to dump it immediately at fair market value of the home (which is, hopefully, at or above what they paid for it).
If the mortgage will be resold at the current value of the home, why not "sell" it to the existing homeowner which, in effect, would be the renegotiation that McCain stated.
I am not a financial expert and would enjoy hearing from those that are what assumptions I got wrong; please feel free to pile on.
He just has to stop talking. PLease stop talking. Let Palin do the talking.
John, promise to have her over in the Senate cracking heads - as the VP is President of the Senate. That’ll get liberal heads exploding.
Hey I have been faithfully paying my mortgage. Where is my break ???
This is a miserable idea, no doubt about it. And I’m fine with him saying it if it means not putting a terrorist sympathizer in the Oval Office. Dear lord, what times we live in when we have decide between sh*tty and mearly crappy.
You are absolutely right. McCain was running so good through the summer. He did get a good dig into Obama on Fannie Mae and Freddie Mac. His idea about the housing market is stupid.
The housing market needs to stabilize on its own.
No, he’s never been a conservative. That’s why he and the entire Republican party are crashing while Sarah’s drawing record crowds. Unfortunately she’s the VP pick this cycle and not the Presidential candidate.
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