Next up: U.S. mortgage rescue plan

[bomelia]

BTW, on O'Reilly tonight, Sen Shelby was criticized for being critical of the bail out and (republicans in general) for not offering a solution (instead of being critical. Sound familiar? Dam the democrats are good.

What to do for the poor shmuck who over borrowed? Simple. Renegotiate terms so that the payments are smaller and last over a longer period of time. Or, long enough until the economy starts to improve. Keeps the house in his hands (instead of the bank who does not want it) and keeps money flowing in the economy. Once "toxic" assetts become non-toxic (at least for a while.)
THis will not help everybody, but it will make a huge dent in the problem.

But no, lets use tax payer money to help these folks make their payments.

Problem is, democrats do not want to hear anything conservatives have to say. And they have the numbers to keep it that way.

Mike

[VRM]

SPF,
Yes on the % of GDP. If you look there as well it dropped a bit under Carter, but then went from about 35% when Carter left office to about 65% when Bush Sr left office (a HUGE jump from those 'fiscally responsible' folks). Clinton got it down to about 60% and Bush got it up to about 70%.

The DNC is partly responsible for this mess, and everybody knows it. The GOP is also partly responsible, but a lot of people seem to think that their poo don't stink. Watch - CdC will offer up some repetitive sage wisdom telling me that the truth suffers.

Mike,
I'll go check out TCS sometime.

Lack of proper regulation allowed this to happen. Plain and simple. Adding regulation will not fix the current problem though, and neither will the 'stimulus'.

I said the same thing on this forum a few months ago regarding redoing the loan terms to keep people in their houses.

And this $7 pay period tax break is just not going to do anything. The bulk of this is just a bloody waste of more taxpayer money.

While I agree with a lot of what the GOP is saying about this stimulus mess the GOP is now being treated just like they were treating everyone who disagreed with them a few years ago - though I don't think anybody has told the GOP to leave the country yet for disagreeing with the majority.

I keep hoping that one of these idiot parties we have will stop being childish hypocrites. I'm pretty sure it won't be the GOP or the DNC, though.