Comments on: McCain Calls for Restraint in Mortgage Crisis

By: obilon

obilon — Tue, 01 Apr 2008 13:57:38 +0000

Thanks for pointing this out in your blog post. It inspired me so much I wrote a reply and posted it on my blog. The gist of my reply is that John mcCain has lumped the average American homeowner in with big corporations as speculative investors. He sees no reason to help out either. Wonder what he thinks of the Bear Stearns bail out?

By: mikew

mikew — Thu, 27 Mar 2008 11:17:31 +0000

McCain is right on. And if what i understand is true that between 2 and 4% of American properties are in foreclosure than it would make sense that between 96 and 94% of Americans should support him.

By: morganb

morganb — Wed, 26 Mar 2008 17:59:43 +0000

Frank – I agree completely. This administration is allowing that to happen. I was arguing that McCain should not allow socialism for the rich if he was elected. Bailing out the millionaires at the expense of the working man is a tired theme that needs to end now.

By: McCain Calls for Restraint in Mortgage Crisis | The Long List of Odysseus Medal Nominees | Realtors and real estate, mortgages, lending, investments

Wed, 26 Mar 2008 15:30:37 +0000

[...] McCain Calls for Restraint in Mortgage Crisis, by Morgan Brown. [...]

By: Nick

Nick — Wed, 26 Mar 2008 15:02:08 +0000

Good post, I agree with you. I wonder if McKeating — I mean, McCain — would urge the Fed to show restraint on handing out hundreds of billions of dollars to the banks to save them from the foreclosure crisis. Or maybe what McCain means is that the government should step in to save multinational banks from bankruptcy, but not step in to save homeowners from foreclosure.

I don't think a McCain government would be able to afford bailouts for banks or homeowners, though, with his promises of 1,000 year wars. That would really put the Fed's money-creation machine into overdrive, taking away potential bailouts from insolvent banks. With a currency backed by bad mortgage debt, more spending of any kind will be tough.

By: Frank

Frank — Wed, 26 Mar 2008 11:15:51 +0000

But the FED is bailing out the banks.

Why not the borrowers?

It seems to me that if nobody will help the stupid borrowers, we should not be bailing out stupid Bear Stearns, or lowering rates that cause everyone to spend more money.

By lowering rates, and giving money to investment banks, they are cushioning the blow on the wealthiest, while the poorest still lose their homes.

I'm for either bailing out nobody, or everyone. Bailing out just your friends is BS!

By: Tom Vanderwell

Tom Vanderwell — Wed, 26 Mar 2008 09:24:55 +0000

Morgan,

I thought the same thing. What he says sounds good. Implimenting it is more challenging.

Ethan Penner from the Wall Street Journal has some interesting comments on the whole bailout issue.

I wrote about them at http://straighttalkaboutmortgages.blogspot.com/....

Stay tuned, it's going to be interesting.

Tom