John Boehner: Time For Government To Stop Helping Homeowners

[Grassy Knoll]

Last edited Thu Feb 2, 2012, 02:41 AM - Edit history (1)

WASHINGTON -- House Speaker John Boehner thinks it's about time for the government to stop trying to aid people with underwater mortgages.

Responding to a plan President Barack Obama unveiled Wednesday to help homeowners refinance, Boehner scoffed at the idea and then suggested government should get out of the way of increasing foreclosures and falling prices.

"One more time? We've done this. We've done this at least four times where there's a new government program to help homeowners who have trouble with their mortgages," the Ohio Republican told reporters on Capitol Hill.

"None of these programs have worked. I don't know why anyone would think that this next idea is going to work," Boehner continued. "All it does is delay the clearing of the market. As soon as the market clears and we understand where the prices really are -- [that] will be the most important thing we can do in order to improve home values around the country."
http://www.huffingtonpost.com/2012/02/01/john-boehner-homeowners-underwater-mortgages_n_1247755.html

[truthisfreedom]

1. Translation: "Fuck 'em all. They were stupid to get screwed in the first place. If you're not in

the 1%, you deserve to get ass-reamed by the 1%. Lousy goddamned liberal Jesus-lovers."

[uppityperson]

2. While I like your headline, LBN guidelines say "Use the published title of the story as the title of

"Use the published title of the story as the title of the discussion thread."

Please change it or risk getting locked. Thank you.

[Fearless]

3. That pretty much describes him in a nut shell too.

[Delphinus]

4. Wow.

And then what ... when all these foreclosures happen ... clearing of the market will do exactly what? When the "true" values are revealed, do they expect people to continue paying for their overpriced homes?

[carla]

5. House Freaker Boner says,

" Massive capital liquidation is the only way out of this recovery. Let the middle class pay for the sins of the speculative class. We want to keep our privilege status, even if kids starve and old ladies die from lack of medical care. Homelessness is better for these people."

[Igel]

14. It's what we believe in general.

It's just when the beliefs hit home that suddenly we don't believe them any more.

Recessions have historically been seen as a way of disposing of marginal and underperforming businesses. They clear out loan portfolios, dump businesses that are moribund. They wipe out investments in losing propositions, or enterprises that hold investment cash and return little or nothing. They're ways of repricing things that the market has mis-valued in ways that lead to having a lot of capital consumed in things that do nothing. The reduction in prices for land and equipment and labor and raw materials makes it easier for start-ups to scrape together the capital to, well, start up. Most post-recession growth comes from growth in small businesses founded in the 6-12 months before the end of the recession. Most of them are start-ups. This recession has seen a relative paucity of start ups.

Recessions have been a nifty way of redistributing wealth, if truth be told. Lenders take a bath, lenders often being investors and not just banks.

This has usually been deemed a good thing in the long run, however painful it might be in the short run for investors.

But it hurts when I'm the investor that has my investment voided.

If the usual interpretation is true, there's another downside to protecting my investment: Slower growth and greater unemployment. The price of protecting the money I've invested is greater unemployment, deteriorating public education, etc., etc.

[Hotler]

6. Boner is a shit stain. That is all. n/t

[cstanleytech]

7. Allow me to translate what he really meant...."I gots mine you chumps"

[Thrill]

8. They don't even hide their bullshit anymore

Yet people still go out and vote for them. Its truly amazing

[Firebrand Gary]

9. Tap, tap. Hey Nevada and Florida, did you see this?

Bohner wants your real estate values to continue to fall.

[newspeak]

10. I'll tell you what, boner

let's talk about stopping predatory lending practices, really regulating wall street, putting some ethical people in the SEC, and then you can open your pie hole about not helping those who have been shafted by your friends. What? No can do. I thought so.

[nolabels]

11. Pretty sure they, the government, didn't help me do shit for the last 12 or 15 years

But for Boehner and his GOP funded buddies they have lined the their pockets with government give-a-ways for many years and now he has the gal. Only wish more homeowners would understand how the republican party has been screwing them over for so long

[dynasaw]

12. Didn't Seem to Object

"government" funding his friends at the banks. So what did they do in turn to help home owners? Come to think about it, where did Beohner think the money came from any way????

[Javaman]

13. How about start helping home owners...

one can't stop something that was never started.