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McCain plan would buy bad homeowner mortgages

October 8th, 2008 . by TexasFred

McCain plan would buy bad homeowner mortgages

WASHINGTON (AP) - John McCain’s proposal to buy up bad home mortgages would use nearly half the $700 billion from the recent Wall Street bailout package to assist Americans directly, instead of indirectly by rescuing the nation’s financial markets.

The Republican presidential candidate announced during Tuesday’s debate that he would order the federal government to spend $300 billion in federal funds to buy the mortgages and allow financially troubled homeowners to keep their houses.

Democratic nominee Barack Obama last month sounded a similar theme, proposing that the government consider taking such a step.

But McCain’s approach was far more categorical.

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McCain plan would buy bad homeowner mortgages

John McCain voted FOR the Wall Street bailout. So did Barack Obama and his VP running mate, Joe Biden. Those are hard and indisputable facts.

McCain and Obama are both trying to use showmanship, trying to BS their way into our hearts as they play the let’s see who can tell us how much they are going to do for us and how much they’re NOT going to raise taxes while doing it game.

I am NOT an MBA, but even a dumb old blogger from Texas knows, you can’t just up and save Wall Street to the tune of $700B plus dollars, OUR tax dollars, and NOT raise taxes in the process. You can’t buy all the bad home mortgages and not raise taxes at some point. It’s just NOT going to work like that.

And if this isn’t enough, today House Speaker Nancy Pelosi, the most disgusting woman in D.C. this side of Helen Thomas, comes up with this load of crap.

DENVER (AP) - House Speaker Nancy Pelosi says a second economic stimulus plan is needed now because of the faltering economy and she puts the price at $150 billion.

The House did pass a $61 billion economic aid proposal last month before lawmakers left Capitol Hill ahead of the Nov. 4 election. But a similar plan failed to pass the Senate.

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Pelosi raises idea of $150 billion stimulus bill

Pres. Bush said he would veto this latest travesty, and damn well he should, I wonder why he didn’t veto the bailout in it’s inception? But, I also wonder why he supported the amnesty plan a while back too. I’m not blaming this all on Bush, but consider this; HUD: Five Million Fraudulent Mortgages Held by Illegals and this; Years of Extending Loans To Illegal Aliens Have Contributed To Economic Crisis…Congress Silent!.

Look at WHO wanted amnesty for the ILLEGALS, look at HOW, almost as soon as the American people stood up to the government and stopped the amnesty plan this financial crisis became front page news, and then look at WHO supported the bailout, many of the same Senators and Congressmen, by far, were supporters of the bailout and amnesty.

I’m not real big on conspiracy theories, but for crying out loud, talk about your coincidences. And look at WHO is paying the bills for all of this too…

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