Does anyone recall that in July legislation was passed calling for $300billion to help up to 400,000 avoid mortgage foreclosure?

It was supposed to be an FHA program. But guess what. That program hasn't helped anyone because there are no implementing regulations as yet.

See: http://www.bloomberg.com/apps/news?pid=206...&refer=home

Careful, the above article is oddly worded. You may have to read it twice to get the jist of the fact that AIG got its $85billion overnight with no legislation at all, let alone implementing legislation. But, ordinary citizens who are being foreclosed on aren't getting jack, even though $300billion was suppposedly passed in July.

Hey BARACK OBAMA, on this you can do something for us. Will you?

Let them all fail, AIG, Freddy, Fanny, homeowners. Why should I pay for someone else's reckless behavior? If some individual homeowner lost a job or can establish some type of medical hardship, I'm all for providing them short-term relief. Otherwise, not a penny, especially for the corporations.

And yet some people believe it was okay to not regulate them so this wouldn't have to have been an issue to begin with.

Nice.

Love how people want it both ways.

I do hope Obama will not miss out on this political opportunity. The FHA legislation calling for $300billion for 400,000 homeowners has already passed. It's already the law. It just hasn't been implemented; yet, in sharp contrast, AIG got nearly a third of that total ($85billion) overnight with neither legislation nor regulations.

I think that is the way Obama should frame this political issue, should he choose to do so.

I do not believe the President, or even Congress, is empowered to issue such a directive.

I have no problem with regulation, what were you advocating before this all happened?

If Obama can help out on some of the foreclosures, that’s great but I doubt it.

There is however, one foreclosure that he needs to very actively participate in – that is the foreclosure on the Republican White House on November 4th by the Democrates.

This thing isn’t near over, by a long shot. Washington Mutual should be immediately next but there are a number of potentials that can go within the next few weeks.

By the time this just hits bottom I am afraid that the debt will be really really high. I think if the numbers were available now that debt may be 15 trillion. Not by the creative accounting of excluding this and that, I mean the real debt.

If the NeoBush gang, and that does include McCain, can so much as live in this country after this hits and sinks in, it will amaze me.

The silver lining, from my guess anyway, is that stealing the election at the point things will be by November would almost certainly spark a revolution and I don’t think neo’s can be quite that insane. These economic numbers are very difficult to manipulate like silly “polling data” BS.

Obama, Biden and a load of others will have their work cut out for them, to the point that I bet they all regret having taken on the job, more than once before it’s over.

Actually, in July new FHA legislation granting $300billion for 400,000 homeowners in foreclosure was passed. Not one dime allocated yet because there are no implementing regulations. Point is, how could AIG get nearly 1/3 of that amount OVERNIGHT, with neither legislation nor regulations?

The answer to the rhetorical query is that the concept of EQUAL PROTECTION has no meaning. As a political issue, though, I think this one has merit and should be exploited.

In addition, and at a more fundamental level, helping people avoid foreclosure is more likely to help the economy get back on track and to help revive the housing market than is bailing out AIG or any other corp, imho.

If they let all of these people pay what they were paying, there would have been no catastrophy. They gave them balloon payments which caused the whole thing. It was the biggest bait and switch in history.

Enough of your spin John Keeting 5 McCain! I’ve had it with your “I er uh de ummmm REGULATED, in the spirit of SocioCapitalism, yeah SocioCapitalism, that’s the ticket and so now I want to reside over my plan to borrow from Peter Chen to bailout Paul Blueblood Smith. ……”

What you did, John, was invent a new kind of economy where Paul was able to con, yes CON, Joe Workingclass into a foreclosure on his family home, based on deregulated house pricing schemes so Paul could, on purpose, take his house away, grab a HUGE bonus to cash just before jumping out of the burning plane with his Golden Parachute and sticking Joe Workingclass with having to borrow from Peter Chen, to be paid back by his kids and their kids, so now John McSocioCapitalism can give GE Capital a tax gift (er uh break I mean) if they promise to take all the broken PIGgyBanks as GE property (and the only bank in town) so GE Capital can charge Joe 24% to borrow for his next attempt on owning another house.

John – you suck big time. This new SocioCapitalism, where profits are put in offshore banks and lose is paid back by Mainstreet Sally by borrowing from China with her kids (and their kids) as collateral just so you can assure that the one single bank of the future can loan those very same kids money with double digit interest that must be charged in order to pay back China (in lead we trust) is nothing but your very own Bridge to Hell! You even lied when you said that bridge simply went nowhere when you clearly knew it went straight to hell.

Jackass! In the words of your mentor and confidant, Dick “So?” Cheney – Go Fuck Yourself!

If you think it has been fun with big oil running countries and monopolizing your life – just wait for big finance monopolizing things.



Obama and Biden are much more than simply the guys we want in office. Imperative is a better word.