Republicans Oppose Homeowner Bailout as Home Values Fall

[DeeDeeNY]

April 7, 2008

PRINCETON, NJ -- According to a new Gallup Poll, conducted March 24-27, 58% of Republicans oppose having the federal government take steps to prevent people from losing their homes because they can't pay their mortgages while, in sharp contrast, 71% of Democrats and 55% of independents support the idea. Overall, 56% of Americans favor and 42% oppose government intervention.

snip ...

In a very real sense, many of today's residential real estate markets are just as dysfunctional, if not more so, than parts of the global credit markets. As a result, it may be in everyone's enlightened self-interest for the administration and Congress to view the residential real estate markets just as the Fed and the Treasury viewed the help they gave to Bear Stearns -- that is, as an effort to promote stability and the orderly operation of the residential real estate markets.

snip ...

In sum, there is an argument to be made that reasonable compassion -- not to mention political reality -- suggests that Congress should act to stabilize residential real estate, and the majority of Americans support such actions.

http://www.gallup.com/poll/106261/Republicans-Oppose-Homeowner-Bailout-Home-Values-Fall.aspx

[BlooInBloo]

1. I'm not happy about bailing out gamblers....

... But if you're gonna bail out the big ones, then by god bail out the small ones.

[Uben]

2. I tend to agree....

...with the repubs on this one. Why should/would we bail out people who took out risky loans on homes they could not afford in the first place? Throwing money at the situation is not going to help them in the long run. It may give them a little more time before they default, but they are going to default anyway. We bail out irresponsible banks, we bail out irresposible home buyers, where is it going to stop? When are we going to hold people and institutions accountable for their actions? All it will accomplish is raising the national debt and deficit and giving the rest of us higher taxes to pay.

I'm sick of paying for other's mistakes. Dammit, if you screw up, own it! I'm sick of paying for worthless military projects meant to keep the military complex afloat, and are obsolete by the time they are completed. What the hell is wrong with letting them go bankrupt? That's what would happen to me if I made one of these stupid decisions.

When the hell is our congress going to realize we can't save every individual or business that makes a mistake? What am I missing here?

[glowing]

3. One might argue that most of these Republicans that oppose to a govt

bailout for homeowners a) are small business owners, who unlike big corps, do have to pay a lot of tax. b) are really greedy banker types who only like our money thru taxes and profits. c) people who do not really understand what is happening and don't want to "pay" for their neighbors "mistakes", even though their homes are being devalued.

The other day I had a conversation with a gentleman. I could tell he was a small businessman, Republican thinking man who probably pays dues to the his chamber of commerce. Finally, I looked at him and said, "pretend for one moment that we didn't know what money was, and we are at the beginning... its just the people and the constitution in its original splendid glory. with those originating ideals that all people should be equal and have life, liberty, and personal freedoms and protections. So, knowing that that is our fundamental path, how do we accomplish that for ourselves now? This is the conversation we need to have. How do we create a democratic society that reaches these goals for all the people who live here.. and on a grander scale, if we are fighting "wars" to bring other people our "ideals" and we are all globaly dependent on one another, then isn't the concept of money in its current form (private banks interest only) a detriment to those ideals that our constitution establishes.

[KharmaTrain]

4. They'll Pay Now Or Pay Later...

There's really little banks or the government or anyone can do now about falling property values...the market will find its bottom and these bailouts aren't going to turn things around...just make matter worse.

THe market bubble was one well known to many...the speculation obvious and no one cared as long as the artificial prices kept rising. When the bubble burst it's too late...the confidence game is over and those who are still stuck in the game are the losers.

The bite on empty houses and lack of home ownership will be felt in many ways...loses in tax revenues to state and local government. Also, with less people owning property and many more holding bad credit, even the simplest loan is all but impossible to get these days. This will affect college loans, small businesses and other ventures that will suffer due to the squandering of the big boys.

The best the government can do at this point is to restore some of the bankruptcy protections...that no person should be forced onto the street if they're going through bankruptcy and that foreclosure should be the last, not the first resort. No, the government shouldn't bail out the bank, nor the homeowners, but to re-establish some humanity to the bankruptcy process that clears all all this bad debt, but doesn't put people out on the street and fill aress with vacant houses that all but ask to be vandalized.

[NNN0LHI]

5. Only foreclose on registered Republicans then

Hows that?

Don

[mac2]

6. Robber Barons at the well again.

Candidates who abuse us, cannot lead us-Vote Smart.org

Those polls are mostly 50/50 what goes with that?

[Hutzpa]

7. So, the ignorance for the populace continues

and they think playing hokey-dokey with your votes will get them
elected for another 4 years...HA!

How out of touch can these lots get, would have thought some adviser
will be earning their money by giving brilliant advice.

GOP really makes me.......:puke:


This is what people can do to show their appreciation for another favors
done by the GOP; there is a conference in April 16 down in D.C, we need
your support on MORATORIUM link below;

http://www.stopforeclosuresandevictions.org/


show your support......:thumbsup: