Feb 17, 2009 8:20pm
A Brief Sketch of Tomorrow’s’ Housing Speech
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A Democrat familiar with President Obama’s plan to stem the tide of home foreclosures — which he will present tomorrow in Phoenix — tells ABC News that tomorrow the president will announce a plan that:
* will help responsible homeowners afford their mortgage payments;
* will enable millions of Americans to refinance or modify their
mortgages to get their monthly payments down, giving them much needed relief in this time of economic distress and preventing millions of
avoidable foreclosures;
* will encourage servicers and lenders to do the right thing and give
relief to struggling homeowners;
* will reward people for playing by the rules.
I realize this is fairly vague. More to come –
- jpt
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I understand the plan is to impose harsh penalties on lenders who don’t go along. There will be some carrots for those that do. He will force private companies to do what the government wants when doing what the company wants isn’t illegal in the first place. If true, I’m not sure if this is socialism or fascism. We have heard Democrats and Lindsey Graham talk about nationalizing banks, we have a number of Dems talking about a return of the Censorship Doctrine so where are all those far left idiots who said Bush was shredding the Constitution. Obama doesn’t promote these ideas, he will wait until the bills are written and then sign them all the while blaming opposition for not being “bipartisan”. This brand of Big Government will be a anchor on recovery for years. If Waxman and Stabenow get their way, free speech will be a thing of the past too.
Posted by: Bill M | February 17, 2009, 8:56 pm 8:56 pm
Fascism, Socialism,Censorship Doctrine, Waxman . . .
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As the verbiage is often repeated, it expands a little. It’s kind of like watching and listening to a train wreck in slow motion, a la the GOP Express and its dittoheaded passengers.
You’ll hear the refrains 4 years from now, louder and more noxiously, long after the derailment.
Posted by: Madame Kathy | February 17, 2009, 9:17 pm 9:17 pm
Ok, Things getting scarey here. Can someone explain what nationalism of the banks is? Also what did President Obama mean when he signed the stimulas bill and said, This is the beginning of the end? That seemes weird….
Posted by: SAY WHAT | February 17, 2009, 9:40 pm 9:40 pm
“* will reward people for playing by the rules
You mean people like me who paid his mortgage properly and did not overextend himself?
We get nothing.
Obama is a first class cretin.
Posted by: drjohn | February 17, 2009, 9:50 pm 9:50 pm
“* will help responsible homeowners afford their mortgage payments;”
If they were responsible they would not have gotten themselves into this mess in the first place.
Do you have any idea what buying those debts is going to cost and what it will do?
Posted by: drjohn | February 17, 2009, 9:53 pm 9:53 pm
“Ok, Things getting scarey here. Can someone explain what nationalism of the banks is?”
Take a look at Venezuela. Imagine Chavez as the President of the US.
That’s what America voted for.
Posted by: drjohn | February 17, 2009, 9:54 pm 9:54 pm
“Can someone explain what nationalism of the banks is?”
That means the government — theoretically, ALL the people of the United States — IS the bank … instead of merely the bottomless funding collective for keeping the banks’ corporate stockholders, who are mostly the richest 2-10% of the population, from feeling bad about their “investments” or suffering losses like “ordinary” mortals.
Posted by: Human Intelligence | February 17, 2009, 9:55 pm 9:55 pm
“what did President Obama mean when he signed the stimulas bill and said, This is the beginning of the end?”
What He probably MEANT to convey was that He’s the champ, but He was waaaay wrong about that: by April 15 — when people who make enough money to OWE taxes are supposed to PAY them — people will be burning Him in effigy.
If possible, plant potatoes or something.
Posted by: Human Intelligence | February 17, 2009, 10:02 pm 10:02 pm
“As the verbiage is often repeated, it expands a little. It’s kind of like watching and listening to a train wreck in slow motion, a la the GOP Express and its dittoheaded passengers.”
When you have something to refute what is on the record, get back to me.
Posted by: Bill M | February 17, 2009, 11:19 pm 11:19 pm
Why in the world does Obama have to take Air Force One out three of four times a week. Anyone who can say we’re in a financial free fall ought to know that they’re not doing what the citizens of the country are having to do. We think you need to stay in
D.C. and stop campaigning on the taxpayers dime.
I hope this man doesn’t expect that normal folks that pay their own mortgages to pony up for anyone else.
Some people that are in foreclosure, should have nothing done for them except to find a price so they can pay their mortgages and forget how much time they will have a mortgage. Tell Barney, Chris, and Maxine that folks that can’t pay mortgages, should never have a mortgages at all. You three are responsible for these messes and if those folks need more money, they should turn to you.
Posted by: elainekramer | February 17, 2009, 11:37 pm 11:37 pm
Elaine,
Good observation about the excessive use of Airforce One. He also parties like there is no tomorrow. He uses every opportunity like no other previous president to stay in the public’s eye be it a Super Bowl party, vacationing twice on taxpayer Airforce One expense, and get away from the White House as often as possible by continuing to campaign on account that he needs to sell with speeches rather than show us the money.
Posted by: Der Kempt | February 18, 2009, 3:41 am 3:41 am
Bottom line:
If you work hard and pay your mortgage on a house you can afford then you will now ALSO be paying (with higher taxes) for those that did not did not pay their mortgages on a house they could not afford.
Posted by: Sally J | February 18, 2009, 8:10 am 8:10 am
Why in the world does Obama have to take Air Force One out three of four times a week
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Obama took his first Air Force One ride on Feb 5th, over two weeks after his inauguration, to Williamsburg for a Democratic retreat. Do you have any support that he’s actually using it on the average of 3-4 times a week?
Posted by: kathy | February 18, 2009, 8:17 am 8:17 am
It’s almost like the people who overbought homes they couldn’t afford are taking their cues from our federal government, which every year spends more than it receives.
Posted by: milton friedman | February 18, 2009, 9:08 am 9:08 am
How many homeowners will “game” the system and let their mortgages become delinquent to get a lower rate or reduced principal?
Posted by: Sigmonde | February 18, 2009, 9:10 am 9:10 am
Rewarding failure is a tragic omen for this country, and the bigger you fail the more you benefit.
Posted by: drjohn | February 18, 2009, 11:17 am 11:17 am
It would be nice if they at least provided a tax deduction for people who don’t use this.
Posted by: MayBee | February 18, 2009, 11:24 am 11:24 am
Obama’s new generation of slackers.
Posted by: sammy | February 18, 2009, 11:26 am 11:26 am
I fail to understand why anyone would criticize the use of Air Force One. Perhaps we don’t understand why it’s necessary to provide security for the President as he travels.
I’m sure if he stayed put in Washington sequestered in the White House many of you who complain that he’s out and about would wonder why he was hiding out. “Damned if you do and damned if you don’t.” I personally am pleased to see the activity.
Posted by: George | February 19, 2009, 11:53 pm 11:53 pm