I don’t think the taxpayer should be paying for someone’s bad bargain and the rest of those of us who have mortgages and willing to continue to pay even if the value of our home is down should then be given the same choice. I mean if you follow that argument, close up the country since we will be way past bankrupt as a country.

So, I agree with you and that was what shocked me about McCain’s proposal.

Plus, then again, if you had a sub prime loan, too many were given to those where they had horrible credit or the Lender was submitting fraudulent documents or making them up or accepting fraudulent documents from the borrowers.

The point is for this country to come out of this mess, free market forces will have to be allowed to occur and let fair market values of homes occur and then we get past the pain in a few years and come out of this mess a far healthier economy.

I just still can’t believe the race to Marxism is occurring in this country and it is worrying me beyond belief.

I emphasize *SAYS* because I have a feeling it will not be implemented that way at all, and will become just another government give-away.

The principal part is what bothers me. I’d rather see the government alter the interest rate to a market-comparable fixed rate, alter the terms, i.e. extend a 30-year out to 40 years, offer that to the homeowner, and then pay the bank the value of the mortgage based on that — which will be much lower than the value the bank booked for the mortgage under the higher interest rate and lower term.

The big issue with all of this is that we’re trying to artificially inflate home values today to a place where they would get naturally in another decade or so. Banks need to take a hit for irresponsible lending and consumers need to take a hit for irresponsible borrowing.

It would have been far better to say to homeowners…the government will offer FHA loans of 15, 20, 25, 30, 35, 40 and 50 year loans and you pay the balance on your loans and the government will offer a lower interest rate (say a 1/4 percentage point below current rates or 1/2 point to a one percent point if you have good credit)

Then that would help and let mortgage companies offer those loans and participate in the FHA program. If its a bad lender, then they don’t get to participate or offer the program to your local community banks who might want to participate. But socialism..hell no….and we know that offering such a plan as McCains will then add fraud into the system and those that bought home to speculate and rewarding bad banks/lenders who get to take the investments off their books and survive to go out and do more bad loans is not what the free market economy is all about.

I fear that if McCain takes us there then he is heading to be just as bad as Marxist Nobama by allowing a redistribution of wealth, etc.

I wonder if having McCain lose the election and 4 years of Marxist Nobama will in the end be the cure needed for America to come back and say we are a capitalist free market economy and we want the likes of a Sarah Palin to get in there and put us back on track toward freedom. The part that scares me is will there be an America left as we become the next USSR.

Yes, it’s socialism. Companies and individuals who richly deserve to fail, and who must fail if the overall system is to be healthy in the future, won’t be allowed to fail.

Then Rush asked if Palin were on the top of the ticket how many of us would be voting for Palin for President and as per my zillion posts I will say it again, ME, ME, ME.

I am of the conclusion that McCain won’t fight hard enough to want to win. He didn’t go against the extremely poor judgment and leadership skills of Nobama in associating with Bill Ayers. On that note, I find it extremely hard to believe and the MSM wants us so badly to believe it since they have no respect for people actually thinking that Nobama who was in charge of $50 million dollars that he gave to Bill Ayers to run radical programs had no contact with him during that time period except for a few Board meetings. If Nobama didn’t look after the money and what was done with it, then he really has no executive skills and should NOT be put in charge of running anything no less the Presidency. Never mind his extremely poor judgment in granting money to a terrorist and one that wants to radicalize students

I also agree that Brokaw ran the worst debate I have seen in way too long and chose the canned questions we all have heard forever….and I tend to believe there were better questions he could have chosen based upon what was submitted to him.

As to McCain saying he was going to forgive principal on loans etc….I wasn’t sure if he meant that the government would offer mortgages but to forgive principal and engage in socialist policies was freaky. Carly Fiorina was on Greta Van Sustern’s show saying that its part of a program that he has been pushing since April. I wonder if he will spell it out more in campaign stops. I am guessing he does.

In any event, after one term of Marxist Nobama as President, I am hoping that a Palin/Jindal ticket will win in a landslide in 2012 (or if Palin takes Romney as VP given his business acumen.)

I see 1976 all over again…..where Ford came close but didn’t win. As Yogi Berra would say its de ja vue all over again.

and we know what hell Carter gave us (the worst economy and worst foreign policy disasters in decades……Nobama will make Carter look good….yikes, this is going to be such a huge mess but I sure hope that Palin is elected President in 2012 and I am hoping that the GOP is smart enough to nominate her and not have a huge nomination fight since we will need a united party to vote out our first Marxist President, the Chose One.

Obama did everything he needed to do, McCain did nothing he needed to do.

All Barry needed to do was avoid coming off as a left-wing kook. Done.

Does McCain even want the job? Are we having another Dole moment?

The Dems could wind up with a filibuster-proof Senate; the House is theirs; and Barry could win.

Unless the libs get seriously mugged by reality, I’d say we’re in for a bumpy future. (I sure hope I’m wrong, wrong, wrong).

http://corner.nationalreview.com/post/?q=MmFkOTk5MTNhZjVjMmYzYzhlY2RiYmQzN2Y3ZGZjMTg=

Try telling John Murtagh.

What do Barack Obama and Osama bin Laden have in common? They both have friends who bombed the Pentagon. -Rush Limbaugh