Last fall, campaigning in Nevada, Mitt Romney took a curious line on housing policy, which Democrats were quick to seize on.
The Republican said at the time, "[D]on't try and stop the foreclosure process. Let it run its course, and hit the bottom." In states like Arizona, Florida, and Nevada, where so many families are underwater, Romney's line on foreclosures is likely to be problematic.
Perhaps this will be an Etch A Sketch issue for the former governor? No, apparently not. Bloomberg News talked to Lanhee Chen, Romney's policy director, who echoed the candidate's sentiments.
Romney ... doesn't intend to offer targeted relief for the 11.5 million American homeowners who owe more on their mortgages than their homes are worth, Chen said, suggesting that such actions are temporary fixes insufficient to stabilize the housing market.
"Governor Romney has indicated that there are some steps we ought to take to ensure that we're growing our economy," Chen said. "But on the housing market specifically, I do think we have to resist the temptation for short-term approaches."
In other words, for struggling homeowners, the message is, "Good luck."
In several key swing states, the housing crisis has taken a brutal toll, and it stands to reason this will be a targeted campaign issue in the fall.
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"In other words, for struggling homeowners, the message is, "Good luck."
Those words are just for homeowners, they are for working women, kids trying to go thru college, for everyone that isn't part of the 1%. "Good luck" with that Mittens.....
You have to know the Republican thinking on this. People who were foreclosed on aren't the sort of people who are going to get out and vote. And the Useful Idiots think that if you were foreclosed on, then you almost certainly had no business having the house in the first place. All the mortgage shenanigans were just playful fun and games. If you were too stupid to be taken in by it, then well, gotta thin the herd somehow.
That's how Republicans think.
Don't forget to add that Republicans like to eat babies fresh, never frozen.
Speaking of "thinning the herd", we have all seen the documentaries of jackals and wolves attacking the herds of zebras and elks. It is always the weakest that succumb.
Fine, "Lex Talionis", "survival of the fittest", it is a "dog eat dog world". Only, I thought Mankind was supposed to be different; I'm pretty sure that Jesus fella has a quote or two on the topic. Someone could look it up in that Book.
Not Republican Jesus.
I forgot: Republicans like to eat babies fresh, not frozen.
I really want Romney to get out there and explain himself, maybe enough people will see enough of him to realize he's unfit to govern a nation.
But, my god, the more I hear him talk the more I want to punch him. His entire campaign is the equivalent of a baseball manager telling his team:
"You guys play real good today!" and when their down during the 7th inning stretch he takes them to the side and says, "We're just down two fellas, you can do it!"
"what should we do differently coach?"
"just... play good, win it!"
and if they win he pumps his chest and declares "I told them to do that!"
I'm so sick of his half answers and his general cries for "we need a strong economy"
At least other conservatives, as much as I disagree with them, would at least give some basic framework ideas that they want.
Just five more grueling months...
Yes, foreclosures must happen. The country won't recover until debt gets repudiated, forgiven, or paid.
This doesn't mean underwater mortgages. If you can pay your mortgage, pay it. If you can't, get the load off your shoulders in bankruptcy and start fresh. albeit with a damaged credit report. Dragging the process out just prolongs the pain. Rip the band-aid quickly.
Yeah, that a good explanation of what you think Romney meant. But we don't have to speculate about what he meant, he told us. He was thinking of how this would work for investors and not homeowners.
Romney:
It was an unscripted moment of candor, and Romeny unintentionally told us what he really thinks. Romney's campaign people are working very hard to make sure Romney doesn't tell us what he really thinks again.
That's the other side of the coin. As long as foreclosures depress the market home prices aren't going up. As someone else might say, propping up prices with zero interest rates is just "enabling." Keep the market from hitting bottom and you'll just prolong the sickness.
Can we agree the housing crisis has a large effect on the economy?
Can we also agree that five major lending banks (Bank of America, JP Morgan Chase, Wells Fargo, Citigroup and Ally Financial) committed fraudulent foreclosures on many people?
Where these same banks signed hundreds of foreclosure documents without checking them for accuracy and hired law firms that forged signatures (using the infamous robo-signers)?
It was said early on that the current recession would further divide economic classes, and with his comments Mitt has proved that. He's already alienated and distanced himself from half of the Americans he would have represented.
Meh's plan would enrich the upper 1% even more by allowing them to buy and fix up the foreclosures, and then rent them back to the people who used to own them...assuming the previous owners can still afford the rent.
I'm actually torn on this subject. Homeowners got into loans they had no understanding of, and/or no ability to keep up with as years passed and terms changed. I had the opportunity to get into a number of homes, but the banking always scared me: A balloon payment is never a good thing. Interest-only loans means you're never paying down the principal, etc.
I'm not in favor of throwing people out of their homes, but I'm not a fan of my tax dollars bailing out people who made stupid (or greedy, or short-sighted) decisions I chose not to participate in.
It should have been the bankers who were thrown out on the street after the government temporarily nationalized the banks they used as casinos.
Does anybody remember which president signed a bill into law forcing banks to make mortgage loans to people that couldn't afford it? Does anybody remember what party blocked every attempt by Bush to have an investigation done on Fannie Mae and Freddie Mac. I'll give you a hint, obama was part of the party.