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#11
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#12
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http://blogs.wsj.com/washwire/2008/1...surgence-plan/ AMERICAN HOMEOWNERSHIP RESURGENCE PLAN |
#13
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So like Lakai said, they would be allocating money from the already proposed $700 billion buyout that is happening anyway, right?
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#14
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I agree that the current bill, as written, would give the Treasury the authority to allocate a portion of the $700 billion funds for this purpose. But my point is where is the money coming from to buy these bad mortgages? The taxpayers. |
#15
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#16
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It could be worse, it could be going to waste of time organizations like Acorn, so they can have more funds for thier voter fraud scams, or to give to companies that produce wooden arrows. |
#17
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Lets go with the facts. The bailout is not $700 billion it is $810 billion. It will be used to buy trouble assets from financial institutions and restore liquidity into the system. Troubled assets mainly consist of mortgage backed securities . The problem with this bill is that it is that it was not made to solve the problem. It is to only suppress the problem in the short term.
I like McCain's proposal and here is why. Risky Mortgages are only the tip of the iceberg and not the only cause for the market going down so much. A majority of people do not understand the HUGE underlying problem of Credit Default Swaps (CDS). CDS are mainly unregulated insurance policies. There is estimated to be around $50-60 TRILLION worth of CDS floating around, no one can really know the exact figure because they can be hidden off the books. Unless we can stop foreclosures, these CDS will have to be paid out making nearly every bank to be wiped out. McCain's proposal would prevent a large number of foreclosures, giving enough time for these CDS to expire (usually around 5 years) and pass laws to regulate banks from predatory lending and everything else that got us in this mess in the first place. People balk at the $300 billion price tag, but don't really understand that it is very small price to pay for an actual SOLUTION. There are millions of ARM loans that have yet to reset. Anything that would prevent or minimize more foreclosures is the only way to solve our economic problems. Can you tell me what Obama is proposing ?? |
#18
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change...duh.
__________________
An unwavering defender of those I see worth protecting. "promote the general welfare, not provide the general welfare" We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America. |
#19
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I agree with you and McCain's proposal. |
#20
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Damn it...Wagner beat me to it.
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