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Home » Categories » Government » Economic Issues » McCain Wants to Gift Equity on Mortgages » Printer Friendly

Missing Link

McCain Wants to Gift Equity on Mortgages

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Submitted Wednesday, October 08, 2008
Missing Link (1,232)
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So the debate happened between Barack Obama and John McCain and I couldn't discern a winner. I felt that McCain looked his age and he moved like a guy his age too. He was supposed to have an advantage in this style of debate but I didn't think he did any better than Obama.

All in all, it was a snore. For all the eruptions over the last few days, they are so polite when they are face-to-face. It's rather sickening.

McCain did say something that made me mad. He said that he wants to buy the bad mortgages from the banks. These are the mortgages of people who bought houses they couldn't afford. He wants to then renegotiate those loans at the present price of those houses. He wants to give away my money to people who were irresponsible and let them keep their McMansions. And when the prices go back up is he going to renegotiate the loans again at the real price or is this simply a gift of public funds?

For all of McCain's bluff and bluster about Obama giving away money to the middle class, at least Barack is talking about giving some to everyone, the responsible and the irresponsible. McCain just wants to help the irresponsible.

It's an odd stance for a Republican I think. It's an odd stance for anyone who thinks that being fiscally responsible is important, and it's odd for anyone who thinks people should learn from their mistakes. I am sick to my stomach. He wants to bail out the people who lied to get into expensive houses. He wants to gift the certain future equity of those houses. He wants me to pay for it.

I'd say that McCain has broken with reality. He has broken with his right wing roots. He has broken with the Republican Party. I could not believe my ears when he said he thought we should make a present to everyone failing to pay their mortgage. Buy them up and cut their principle he said.

Wow, does that idea stink or what? But, wait, maybe it's better than the "alternative".






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