An August Surprise from Obama? (Home loan forgiveness!)

Reuters ^ | 8/6/10 | James Pethokoukis

[narses]

Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth.

[erkyl]

Yes, I get this. And I did figure out my math was wrong. It would be a bit more than $300 million. That is just a dollar a piece. But for what we spent on the stimulus, we could have given every man/woman/child two thousand dollars.

This might actually wake a few sleepers up.

[erkyl]

I was never good at math. I’ve now proven it. ;-)

But, hey, at least I figured it out right on my own.

[no dems]

If Obama and Company thought this move would retain their control of the House and Senate, they'd do it in a heartbeat. I mean, why would they not?

[no dems]

If 0bama does it, then he would be fried because he chastized Hillary for suggesting this in July of 2007

Yeah; like the average, lazy, uninformed American voter knows what Hillary said and what Zero does. They don't give a rat's butt as long as they benefit from it financially.

[GreyMountainReagan]

0bama fried? By whom?

[GreyMountainReagan]

You posting this again? Your math is off by a factor of ONE MILLION.

Serious question are you trying to be stupid?

[originalbuckeye]

So sorry to hear. I thought America was wising up. I may be wrong.

[gunsequalfreedom]

Wait a minute, what about me. We paid off our mortgage. Our house is worth less than we paid though. Can I get a refund? What about me!

[Quiller]

If 0bama does it, then he would be fried because he chastized Hillary for suggesting this in July of 2007.

Right.

Just like he's been 'fried' for reversing course on so many other things he said during the campaign, or since.

The only thing more disappointing than how much our elected 'representatives' depend upon the public's short memory, is the degree to which they are right.

Let's see -- 0 redistribute more dollars from the people who work, live within their means, and pay their bills, to the people who don't, for the purpose of keeping the democrat party in control and himself in office.

Gee, Olly, he'd NEVER do that, would he?

Of course, I'm sure he will give Bush credit for the program, since the HARP came out of Bush's term. /sarc

I'm curious, though -- would 0 appoint another czar to 'oversee' the process?

[kickme]

I am on board - trickle UP economics yeah! I actually suggested this to my Rep.....funny thing she didn’t get back to me.... Guess we’re lunatics....it obviously makes more sense for us to give our $$$ to the Wall Street/banker crooks who are stealing from us.....and caused this in the first place!

Conspiracy theories are all that make sense anymore - see:

Prisonplanet.com

[DontTreadOnMe2009]

1 stimulus = $10,000 CASH for every nuclear family in America

or $2,000 as stated for every man woman child

---

or

amazingly,

$500 for EVERY family/ house/ hut in the ENTIRE world

Maybe that’d make ‘em finally l like us.

Hell, better than what we did get which was NOTHING !!!

[norwaypinesavage]

Some 20 percent of mortgages are “under water”. Not all families hold mortgages, say about half. This means about 10 percent of the families in the country hold under water mortgages. A sizable percentage of the 90 percent without underwater mortgages understands the the mortgage problem was CAUSED by Democrat policies. Do the Democrats really believe that Americans are stupid enough to think that if Obama gives the underwater ten percent free money, the rest of the country will vote for Democrats?

[GatorGirl]

Well your math is wrong because your $300,000,000 is actually only $1 per person, which probably won’t “help” much at all!

[Mike Darancette]

The government will probably want it’s money back (with interest) if you make a profit selling your house.

[Melian]

He still has African-Americans, liberal white women, American Jews, the media, many Catholics, many minority groups, entertainers, teachers, and the dunderheads.

He’s doing okay.

[erkyl]

Hey I admitted in two separate posts that I was stupid. You don’t need to pile on.

:-P