Upcoming Foreclosures

For those of you who are having a hard time understanding, why doesn't Obama just come out and say it?

Why doesn't he just come out and say, "People, this mortgage bailout plan is not really for the people in jeopardy of losing their homes, it is for the banks who are in jeopardy of losing money. We are using the American people as an excuse, as we are in a crisis and you should never let a good crisis go to waste. The damage has already been done. Home values across the country have already gone down over 20% because of foreclosures that have already happened, and will continue to go down regardless of what is done. So, my good people who are working hard to keep up, please be understanding. I am using you, just as you have been used for decades." The amount owed vs actual value will be balanced out, removing the risk from the bank should a person go into forclosure. What is the value of a forclosed home vs the value of a loan that goes the full term? You said it yourself. 80% of these people will probably lose their homes regardless. (I've heard 60%) So, who has more money to lose? Certainly not the person who loses the home. I don't listen to Rush so you can throw that thought out. I also don't believe a single thing any politician tells me. I've been around long enough to realize that most every one of them say what people want to hear, not what the actual truth is.

Public Comments

1. well that would be to american
2. Orwellian double speak is a Marxian specialty.
3. Because it would be met with even more public opposition. I don't get why he cant just be open and honest about socializing America. He keeps dancing circles around the issue
4. Because it isn't? But all politicians lie
5. Well said. Thanks for the liberal translation..because it's 100% true. Brains..it really isn't acceptable as a society to swallow lies by our politicians as the norm. Yes....often the case, but don't we usually have a lot of backlash when it happens? Why....wait..... YES WE DID. All during the Bush administration. Don't be fooled into thinking Republicans never questioned him or that they agreed with him at every turn. Respectively, question your leaders....ALL of them. Obama shouldn't get a pass either. And given the state we are in...if you pass up the chance to question, it won't be an option in the future. If you're going on a long trip and you know that there aren't gas stations for 300 miles...are you going to fill up before then or run out on the side of the road and go ..."oh well...."
6. Obama believes his own rhetoric and thinks the American people are so stupid they can't see through it. If you can't dazzle them with brilliance, baffle them with BS. He's good like that.
7. Good Point - glad someone else understands as well. Obama is using the sheepeople for the banks benefit. I guess this is the skinning part - the slaughter comes later.
8. For the same reason that he does not just come out and say that he is making the federal government take over every facit of this country and circumventing the states which is contrary to the constitution that limits federal government. For the same reason that he does not just come right out and say that within this newly structured federal government, his own White House is attempting to take control of every function possible, especially those dealing with the urban masses of citizens and illegals who will be future voters to empower him. Bottom line: A revolution is taking place right under the noses of the ignorant people of this country and it seems that only a handful either understand the ramifications or care.
9. It's because without it EVERYONE will lose their home regardless of credit history because all the banks will fail.. But don't let facts get in the way of emotions.
10. Great summary ZA ZA.
11. He would tarnish his image. Frankly, it does not bother me much because I am older and the generations after me will be the ones getting it up there a**. I've had my turn and it's up to you youngens to fix it. Good luck. Peace
12. Because it would not be true. The mortgage bailout will cost the lenders enormous amounts of money by forcing them to write down the value of the loans until the payments are no more than 31% of the household income. And the people who will pay the price for this will be the people who are in good standing for their mortgages.
13. You will have to explain to me how this helps the Banks, because I don't see it. It will actually cost the Banks more than to sell the property to someone who actually has a chance of paying them back. 80% of those in default go back into default even after the Bank give them concessions. So I fail to see the banks benefiting from this.
14. I think you are failing to understand that the measures to stimulate the economy are all based on macroeconomics. [Macroeconomics] [Definition: The study of the behavior an economy at the aggregate level, as opposed to the level of a specific subgroups or individuals (which is called microeconomics). For example, a macroeconomist might consider the industrial sector, the services sector or the farm sector, but he/she will not consider specific parts of any of these sectors. Factors studies include inflation, unemployment, and industrial production, often with the aim of studying the effect of government policy on these factors.] The key term here is "aggregate level". The bill, contrary to what Limbaugh has told you is not about individual "bonuses and perks", it is about aggregate cash flow entering the economy at the lower levels (since the higher level are obviously broken). The Republicans who are so "anti-socialist" are bitching because their $13 a week won't by a new pickup truck...but all of the $13 dollars together will pump about 1.75 BILLION dollars per week into the usable economy. As far as mortgages go...first you complain defaulted homeowners are getting a freebie, then you complain because they are being "used" to bail out the banks. The final question is...DO YOU WANT THE ECONOMY TO RECOVER OR NOT??? If you do....it must be done macroeconomically. Some people will get a better deal than others (the same as with the passage of any bill), but the point is to repair the national economy.