McCAIN $300 BILLION MORTGAGE BAIL-OUT PLAN (thought, conservative, Hillary Clinton, Americans)

[RD5050]

If McCain wins, he will allow people who PAID TOO MUCH FOR THEIR HOMES to get back some of their money by having a new mortgage for a lower principle amount.

HOW NICE !!!

How about if I paid too much for my car ... will McCain use taxpayer money to give me back the amount I overpaid as well?

If I purchased a stock that is currently worth only 50% of what I paid ... will McCain also use taxpayer money to give me back what I lost in the stock market?

Does this seem fair that McCain wants to use $300 Billion of EVERYONE'S TAX MONEY to give it to a few people who MADE BAD TIMING DECISIONS when they purchased their home?

NEWS FLASH - Over time ... homes go both UP and DOWN in value !!!

Will these people with the new LOWER PURCHASE PRICES on their homes get to keep their GAIN when they re-sell their home at a HIGHER PRICE 5 years from now?

CONSERVATIVES are always complaining about giving handouts to the needy ... people should pull themselves up by their own bootstraps, etc, etc.

THIS $300 BILLION will be the BIGGEST GOVERNMENT HANDOUT in U.S. History !!!

And it won't be going to the "needy". It will be going to the people who MADE BAD TIMING DECISIONS when they purchased their home.

Nobody "twisted" their arm to buy the house. They simply bought thinking it was a good investment at that time .... and THEY WERE WRONG!

They could have RENTED a home during that period ... but instead, they decided to buy a house during a HOUSING BUBBLE ... and they made a BAD TIMING DECISION!!!

Housing prices were skyrocketing in 2003 - 2006. Everyone who bought at that time thought that prices would just continue to go up and up.

People make bad investment decisions all the time. They lick their wounds and move on.

I have money invested in a retirement savings account. Like a lot of Americans, I lost money when the stock market collapsed during the past few weeks. Is the government going to give me back the money I am currently down?

I lost money in the stock market when the internet bubble burst in 2000 .... did the government give me back any of the money I lost back then?

IS IT FAIR THAT MY TAX DOLLARS will now be used ONLY for people who TOOK A GAMBLE IN HOME PURCHASES which lost value ? Just like I lost money in the stock market in 2000, and more recently in my retirement savings account?

THIS IS McCAIN ECONOMIC THINKING.

TOTALLY UNFAIR !!!

[domino]

I have obviously paid too much for my 401K since it is continually losing value. Can McCain help me out too? What about those of us who have plenty of equity in our homes, but not as much as before the downturn. We have suffered financial losses too; I want to be kept whole!

[domino]

Originally Posted by RD5050

If McCain wins, he will allow people who PAID TOO MUCH FOR THEIR HOMES IS IT FAIR THAT MY TAX DOLLARS[/u] will now be used ONLY for people who TOOK A GAMBLE IN HOME PURCHASES which lost value ? Just like I lost money in the stock market in 2000, and more recently in my retirement savings account?

THIS IS McCAIN ECONOMIC THINKING.

TOTALLY UNFAIR !!!

Actually, the banks also win big time. Under this plan, the banks don't lose a penny on the risky loans they made.

[honeyinhouston]

McCain is seriously erratic. He's all over the place with his "plans". Next week he'll say something totally different.

[pghquest]

Originally Posted by RD5050

If McCain wins, he will allow people who PAID TOO MUCH FOR THEIR HOMES to get back some of their money by having a new mortgage for a lower principle amount.

HOW NICE !!!

How about if I paid too much for my car ... will McCain use taxpayer money to give me back the amount I overpaid as well?

If I purchased a stock that is currently worth only 50% of what I paid ... will McCain also use taxpayer money to give me back what I lost in the stock market?

Does this seem fair that McCain wants to use $300 Billion of EVERYONE'S TAX MONEY to give it to a few people who MADE BAD TIMING DECISIONS when they purchased their home?

NEWS FLASH - Over time ... homes go both UP and DOWN in value !!!

Will these people with the new LOWER PURCHASE PRICES on their homes get to keep their GAIN when they re-sell their home at a HIGHER PRICE 5 years from now?

CONSERVATIVES are always complaining about giving handouts to the needy ... people should pull themselves up by their own bootstraps, etc, etc.

THIS $300 BILLION will be the BIGGEST GOVERNMENT HANDOUT in U.S. History !!!

And it won't be going to the "needy". It will be going to the people who MADE BAD TIMING DECISIONS when they purchased their home.

Nobody "twisted" their arm to buy the house. They simply bought thinking it was a good investment at that time .... and THEY WERE WRONG!

They could have RENTED a home during that period ... but instead, they decided to buy a house during a HOUSING BUBBLE ... and they made a BAD TIMING DECISION!!!

Housing prices were skyrocketing in 2003 - 2006. Everyone who bought at that time thought that prices would just continue to go up and up.

People make bad investment decisions all the time. They lick their wounds and move on.

I have money invested in a retirement savings account. Like a lot of Americans, I lost money when the stock market collapsed during the past few weeks. Is the government going to give me back the money I am currently down?

I lost money in the stock market when the internet bubble burst in 2000 .... did the government give me back any of the money I lost back then?

IS IT FAIR THAT MY TAX DOLLARS will now be used ONLY for people who TOOK A GAMBLE IN HOME PURCHASES which lost value ? Just like I lost money in the stock market in 2000, and more recently in my retirement savings account?

THIS IS McCAIN ECONOMIC THINKING.

TOTALLY UNFAIR !!!

In the event you didnt know this, this was a HILLARY CLINTON plan.. and I've been criticizing it from day 1. The fact that the messenger has changed does not mean its a good plan..

As I've claimed before, I lost money in the stock market, can the government bail me out?

[pghquest]

Oh look, Hillary Clinton removed the webpage with the EXACT same proposal

HillaryClinton.com - (http://www.hillaryclinton.com/feature/mortgage/?sc=8 - broken link)

How sweet

[RD5050]

Originally Posted by domino

Actually, the banks also win big time. Under this plan, the banks don't lose a penny on the risky loans they made.

It's amazing the way John McCain plans to spend our tax dollars!!

Under the McCain plan, I will be working hard to pay down someone else's mortgage, simply because they bought a house they couldn't afford in the first place during a HOUSING BUBBLE!

[Pressing-On]

"This is the first strong initiative from either candidate to stabilize housing prices. The problems we face can only be repaired once price floors are established in each local housing market. By keeping homeowners in place and establishing floor prices the private market should rapidly respond. Look at the increase in velocity in CA and Nev now that price floors have been established with the sale of thousands of foreclosures. This program should speed this up across the country. The McCain team should be lauded for coming up with a plan. The Machievelli suggestion would surely make this plan better. The critics complain about socialism and rewarding bad judgment but we all lose until price floors in each market are built. This takes significant amount of sale activity. Let’s go."

[dreamofmonterey]

Originally Posted by RD5050

If McCain wins, he will allow people who PAID TOO MUCH FOR THEIR HOMES to get back some of their money by having a new mortgage for a lower principle amount.

HOW NICE !!!

How about if I paid too much for my car ... will McCain use taxpayer money to give me back the amount I overpaid as well?

If I purchased a stock that is currently worth only 50% of what I paid ... will McCain also use taxpayer money to give me back what I lost in the stock market?

Does this seem fair that McCain wants to use $300 Billion of EVERYONE'S TAX MONEY to give it to a few people who MADE BAD TIMING DECISIONS when they purchased their home?

NEWS FLASH - Over time ... homes go both UP and DOWN in value !!!

Will these people with the new LOWER PURCHASE PRICES on their homes get to keep their GAIN when they re-sell their home at a HIGHER PRICE 5 years from now?

CONSERVATIVES are always complaining about giving handouts to the needy ... people should pull themselves up by their own bootstraps, etc, etc.

THIS $300 BILLION will be the BIGGEST GOVERNMENT HANDOUT in U.S. History !!!

And it won't be going to the "needy". It will be going to the people who MADE BAD TIMING DECISIONS when they purchased their home.

Nobody "twisted" their arm to buy the house. They simply bought thinking it was a good investment at that time .... and THEY WERE WRONG!

They could have RENTED a home during that period ... but instead, they decided to buy a house during a HOUSING BUBBLE ... and they made a BAD TIMING DECISION!!!

Housing prices were skyrocketing in 2003 - 2006. Everyone who bought at that time thought that prices would just continue to go up and up.

People make bad investment decisions all the time. They lick their wounds and move on.

I have money invested in a retirement savings account. Like a lot of Americans, I lost money when the stock market collapsed during the past few weeks. Is the government going to give me back the money I am currently down?

I lost money in the stock market when the internet bubble burst in 2000 .... did the government give me back any of the money I lost back then?

IS IT FAIR THAT MY TAX DOLLARS will now be used ONLY for people who TOOK A GAMBLE IN HOME PURCHASES which lost value ? Just like I lost money in the stock market in 2000, and more recently in my retirement savings account?

THIS IS McCAIN ECONOMIC THINKING.

TOTALLY UNFAIR !!!

I agree 100% . The man is clueless on middle class issues. If someone buys a 700k house w/an interest only loan, over his head in Orlando and now he cannot pay for it, taxpayers are supposed to bail this person out, and then in 10 years when the market rebounds, the man gets a big chunk of equity?

McSame is clueless.

[paperhouse]

Originally Posted by dreamofmonterey

I agree 100% . The man is clueless on middle class issues. If someone buys a 700k house w/an interest only loan, over his head in Orlando and now he cannot pay for it, taxpayers are supposed to bail this person out, and then in 10 years when the market rebounds, the man gets a big chunk of equity?

McSame is clueless.

No, he's a socialist. He's also a moron.