“We’ve got to buy up these bad loans.” His plan is to renegotiate mortgages at the present value of the homes. It’s socialist versus socialist. Nice…
There’s always something to howl about.
“We’ve got to buy up these bad loans.” His plan is to renegotiate mortgages at the present value of the homes. It’s socialist versus socialist. Nice…
Eric Bramlett says:
I noticed that, as well. Pretty incredible. No cohesive ideology any more.
October 7, 2008 — 6:19 pm
Bob says:
A chicken in every pot.
October 7, 2008 — 6:25 pm
ShortSaleBlogger says:
Was working on a blog post of my own, to the same effect. You beat me to it!
I’m writing in Ron Paul. Seriously.
October 7, 2008 — 6:26 pm
Bob says:
Flip a coin. Both just promised me a tax cut!!!
October 7, 2008 — 6:40 pm
chris e says:
Hey he didn’t say who’s money will use to buy “these loans”.I know, I know, with mine ans yours.I HAVE NO MORE MONEY I’M BROKE I NEED A BAIL OUT so do you ,and you and you……..
October 7, 2008 — 6:47 pm
Miami Beach Attorney says:
So McCain said he will not raise any taxes, is promising tax cuts, and at the same time, the government is going to buy all the bad assets–is he going to donate some of his extra homes to help acheive this?
October 7, 2008 — 7:47 pm
ShortSaleBlogger says:
Ok,
Who else heard Obama look everyone in the eye and say America is a wealthy nation?
Tell me that he didn’t really say that.
October 7, 2008 — 7:53 pm
Robert Kerr says:
No, no, no, Greg!
The Republicans are for limited government! Free and fair markets. Non-interference.
Buy up loans? You must’ve misheard the good Senator.
Tell him, Jeff. Tell him what the Republicans really stand for. Tell the fish story, that’s my favorite.
October 7, 2008 — 8:07 pm
Greg Swann says:
> The Republicans are for limited government!
I’m not a Republican, Robert, but your argument is a Straw Man in any case. The forebears of the Republican party have been Rotarian Socialists since Alexander Hamilton.
October 7, 2008 — 8:37 pm
Robert Kerr says:
The Republicans are for limited government!
I’m not a Republican, Robert, but your argument is a Straw Man in any case.
Agreed, except it’s not my argument
October 7, 2008 — 10:40 pm
Mike Taylor says:
What is everyone so bent out of shape for? Now we can advertise, “I will guarantee your home will go up in value or the government will pay you the difference”.
October 8, 2008 — 3:25 am
Cheryl Johnson says:
I just figured Mr. McCain wanted to take credit for the FHA HOPE Program
October 8, 2008 — 4:04 am
Cheryl Johnson says:
P.S. For anyone else feeling a need to double check anything they thought they heard last night…
Here is a transcript of the Second Presidential Debate.
October 8, 2008 — 4:23 am
Eric Bramlett says:
Here’s the factcheck.org analysis of the debate.
October 8, 2008 — 4:32 am
Greg Swann says:
> Now we can advertise, “I will guarantee your home will go up in value or the government will pay you the difference”.
Bravo! You win the Black Pearl Award for black humor!
October 8, 2008 — 6:30 am
Todd Tarson says:
McCain lost me with his idea of a bail out for borrowers. I might have been able to swallow “buying mortgages from banks at a discount” so that the banks that made the stupid loans would feel pain… and not just me the tax payer.
This is only the third presidential election that I have really paid attention to (in my 20’s I really didn’t follow politics all that much), and sad to say that this is the third time that neither major party candidate has impressed me or earned my vote.
October 8, 2008 — 8:43 am
Dave says:
Todd,
Get used to it. It’s time to explore other options.
October 8, 2008 — 8:46 am
Tom Hall says:
ok – can you be a liberal yet be a financial conservative?
Hmm – what am I missing here – why in the hell didn’t Congress force banks to workout the non-performing loans – period.
Now I’m hearing the $700B would be better spent recapitizing failing banks.
Glad they’re working out the details AFTER passing a bailout bill – thank GOD they passed it in time to ease the concern on Wall Street.
Oh – wait a minute …
October 8, 2008 — 9:21 am
Tina Fountain says:
I also thought I heard him say that we need another $300 billion to revive the housing market?
October 8, 2008 — 11:43 am
Edge - The Credit Crunch says:
Tom, I agree man.. It’s been comical to say the least. If I had been seriously in the camp for the Republicans in these last few months I’d be mopping my floors with my jaw.
During the debates, when Ron Paul asked McCain that economy question (you can youtube search for the video) and McCain, for probably the first major time, replied that he didn’t know a lot about the economy, I got a dirty dirty feeling in my stomach.
I mean, even if Ron Paul had more idealistic than realistic ideas from time to time, he was a doctor who knew more about healthcare than any other candidate, and he often goes head to head with Bernanke, so as far as the economy goes, he’s got a load of experience there. Couple that with a strong record and I’d say that we’d be in for a different kind of Republican party. Right on!
With those kind of credentials, I was sure my party wouldn’t repeat the same mistake a third time! Romney had some experience with money, Huckabee was a bit of a religious nut, but at least he was supporting the flat/fair tax. No way “9/11 Guliani” or “P.O.W. McCain” would steal the election and ask us to ignore their records for the sake of personality and intangible emotional fakeouts!
But alas… After the primaries, I realized that the bulk of the voters were those who only really used email to send pics of the kids and funny pictures of cats, and that Paul’s internet message was being lost. But certainly they’d choose someone other than the guy who said he didn’t know much about the economy.
I mean Bush is in the same camp there and we saw how well listening to HIS advisers worked!
Such is politics in America, I guess.
I’m continuously coming closer to the idea that if we had to do a bailout (PLUS a Fed feed of $630 billion or so) at all, the taxpayers themselves could have at least been given a good 5-6 digit dollar amount to thank them for their troubles.
It may not re-stimulate the economy, but in the event that the bailout fails and we’re STILL out TRILLIONS of dollars…
I’d have enough cash to cover rent for a while.
October 8, 2008 — 12:22 pm
J Boyer Morristown NJ says:
Who does McCain think he is, FDR? It is amazing what will come out of someone when they are in political trouble.
October 8, 2008 — 1:54 pm
Bob says:
No worse than what comes from Obama who isnt in trouble.
As long as the electoral college exists, many of our votes dont matter. perfect opportunity to make a statement.
Write in Ron Paul!
October 8, 2008 — 8:10 pm
Cheryl Johnson says:
McCain’s web site now has a summary of his Homeownership Resurgence Plan
Can someone point out to me the differences between this and the FHA HOPE Program?
October 9, 2008 — 3:36 am