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 ...
So let’s see... He wants to buy mortgages that are entering foreclosure - like when they are offered at a foreclosure sale. Meaning the Government buys more property at discount rates, and most likely then sells the property later on at a profit.
And this is socialism how???
Hey stupid! Your are voting against the most dangerous Empty Suit Marxist ever to come within striking distance of becomomng POTUS. GET A FREAKING BRAIN CELL!!!!!Translation: I'm a useful idiot.
This is how liberty dies: with thundering applause.
Well, that’s why I put that in parentheses as the only possible effect on my monthly payment from a drop in value. I agree that local taxing authorities aren’t going to just lay down and take the loss. In fact, there is really no guarantee that the tax assessor will even agree your house has dropped in value, regardless of the markets...
You may have a point there... uncle Sam being the saviest deep pocket buyer of “but low, sell high”.
...LOL. Thanks for the laugh, I need it :^)
Of course, it isn't McCain's money. It's mine and yours. I would have liked to have used mine for college and a new house. But I guess I can bailout a few more of his buddies. It's only fair. Right?
I’d much rather the Government buy hard assets like property than give out food stamps, “free” health care, or fund education. If Government stuck to property and infrastructure we’d be a LOT better off!
I’ve seen some pretty bizarre posts but yours takes the cake. Who determines home values. Who eats the difference. This is one of the most idiotic thing ever proposed.
Sorry Michelle, you’re wrong about this one.
Sure it’s a terrible idea. But it’s great strategy. McCain has to persuade the moderate Dems, women, and independents who will decide this election.
Those voters aren’t anchored down by ideology like the the respective left and right. It’s a good strategy that will sell to the squishy middle.
The dems screwed the taxpayers, so now we have to deal with it. I want a democrat perp walk after this as much as you do.
BUT......The money is already allocated. McCain wants to buy the mortgages and re-sell them to people who will actually pay for them. I agree with him. Get rid of the welfare housing and turn it into real property.
“Carly fiorina is making a point on Greta that is moronic.”
‘cause she is. She ran HPQ to the ground. I was short all the way.
The folks who have been pimping McCain should be ashamed.
Oh yeah, that’s sentiment is going to go over real well here.
Since when did you get the idea that this board is about M beating B instead of conservative policies winning out?
Support McCain, I don’t care. If you think that’s the right thing to do go for it.
But it certainly does matter what each of them say. Obama’s wrong 99.9% of the time and the only .1 right when he has a mental lapse and forgets he’s a socialist. But that doesn’t mean McCain gets a free pass for stupidity and anti-conservative anti capitalist suggestions.
“As for the mortgage issue, anybody who purchased a home between the years of, say, 2003 and 2006 paid, in most cases, more for their house than it was worth. The vast majority are still paying their mortgages on time. Purchasing those mortgages and renegotiating them would both provide liquidity to the banks who currently own them and provide a source of long-term profit to the government. Now, I don’t believe the government should be in the business of making money, but I don’t see it as massive socialism.”
INSANITY. Where did you study economics?
Check the original link. Malkin posts the McCain press release. It very clearly states that the $300 billion is NEW SPENDING.
Wouldn't Satan be the worst candidate? I'm confused. Where's the kool-aid?
The brain washing he received in prison is now surfacing!
He’s a certified communist now!
I would love to get the Barr and Baldwin quotes tonight on this socialist nonsense.
Sheesh.
Where is all this money going to come from??
I didn't hear anything about re-selling them to other people. If so, tomorrow we'll be reading how McCain wants to kick poor people out into the streets.
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