March 25, 2008

Like a broken watch, even John McCain is right twice a day. And today, he was AMAZINGLY AND EXTREMELY RIGHT on the housing mess


Dude doesn't say anything on the housing issue for months and months and then today he comes out and is the smartest guy in the room? Hmmm... Looks like some of McCain's advisors are reading HP. Hello McCain advisors!

So Bill (oops, I mean Hillary) Clinton weighed in yesterday, and if she had her way billions and billions more would be stupidly and wrongly spent bailing out housing gamblers and failed flippers, and the guy who caused the mess (Greenspan) would be leading her committee to get us out of the mess.

So that leaves Obama. Let's see what he has to say, 'cause he hasn't said much yet. But as of this moment, when it comes to the housing crash and what to do about it, with today's speech, McCain is far and away in the lead.

Clinton: E
McCain: A
Obama: Present

And come November, as we've predicted here for years, the Great Housing Crash will be the #1 issue on everyone's minds as they step into the voting booth.

McCain offers tough love on housing woes

"In our effort to help deserving homeowners, no assistance should be given to speculators," McCain continued.

"Any assistance for borrowers should be focused solely on homeowners, not people who bought houses for speculative purposes, to rent or as second homes. Any assistance must be temporary and must not reward people who were irresponsible at the expense of those who weren’t."

He then called for homeowners to be required to put down payments on homes, for lenders to raise standards, and for all those involved to move to more transparency

41 comments:

Refuse to buy overpriced said...

Hooray!

Now he just needs a plan to get us out of Iraq in less than 100 years.

Anonymous said...

Oopsie!!! GOP Massive credit bubble is 1.2 TRILLION, so says Goldman Slacks. And it's not even 50% popped yet!!

http://tinyurl.com/3cguzx

THANKS GOP!!!!

David said...

McCain is bought and paid for. To think he actually means what he says is beyond naive.

Lady Di said...

He gets a little credit for getting it right here, but he is still a crazy, old SOB that cannot become the president.

Unfortunately with the 2 Dems about to self implode, my nightmare of McCain become prez may become a reality.

God help us all.

Anonymous said...

If he promisses to get rid of Helicopter I'll vote for him!

Refuse to buy overpriced said...

There is plenty of blame to go around for the mismanagement of our economy in the past 16 years.

Clinton, Bush, Greenspan, Bernake, Congressional Democrats, Congressional Republicans, economists who don't give a d@mn about the well being of middle America.

The real culprits, however, are borrowers lenders and investors who made recklessly foolish decisions.

Right now, the most important thing is for them to learn their lesson, which they haven't yet. Congressional Democrats want to bail them out, which would be a moral disaster.

Frank@Scottsdale-Sucks.com said...

He might be spot on today but the trouble with McCain is that he takes whatever is the most popular position in order to get elected. And as of now, the majority of Americans are opposed to a bailout scheme so that's the side he's taking. (Then again it *IS* the job of an elected official to represent his constituents' views rather than impose his own.)

Obama is a hardcore Marxist - even more so than Hillary - so he clearly will favor a bailout plan for failed gamblers, paid for via tax hikes.

Grandpa Munster McCain said...

John McCain = Grandpa Munster.

Anonymous said...

I OWN my home, how is it again the McCain is going to help me?

Afterthought said...

Obama is lesser of three evils now, but if H Ross, Lou Dobbs, Chuck Hagel, or Ron Paul jumps into the race; I won't support Obama.

wc said...

How about requiring lending banks to put a little skin in the game too instead of just being to sell off the paper. When I took out my home loan - my spouse and I needed 20% down and we had to supply mountains of W2's, bank statements, credit card receipts, letters from landlords, employers -it's not really that hard to do. We both had perfect credit and over $50K in the bank at the time and we were still worried we wouldn't qualify.

Anonymous said...

Very few Americans want to hear the truth about the housing mess. McCain mouthing the "right" words isn't gonna get him elected.

Americans want assurances, platitudes, warm & fuzzies. Hillary is full of those and maybe Barack will get more on board with that.

Anonymous said...

I am not surprised. McCain is my candidate. I was hoping to vote for Democrats if Hillary was the candidate, even though I disagree with her one some issues including housing. I am disappointed. I cannot stand Mr.BO. He has no integrity or no stand on anything. He is an extreme left wing hate monger, you can tell by the company he keeps, Wright, Al Sharpton, Farrakhan. I have no patience for extreme left or right.

Anonymous said...

All politicians are bought and paid for, but regardless of what happens one thing is certain, "Dubya" is gone in less than a year and any of the three remaining are better than "Dumbya" on their worst day when "Dumbya" had his best day as POTUS.

Anonymous said...

In you FACE Flanders!!!


Clinton: billions and billions more to the wind.

Obama: 'present'.


Gotta Love It.

Anonymous said...

Huh, speculators don't need bailouts because the intention was to flip. The flipping market is dead with or without bailouts.

So I don't know what McCain and irrational Clinton Haterz™ are crying about. Even if there was a bailout for flippers, they wouldn't jump in because there's no way to flip the homes. Apply simple logic here, rinse twice.

As I said before, there won't be bailouts because the last massive reset hits in July 2008 and the Dems won't make the economy nice for McCain or GOP before elections.

J at IHB and HFF said...

McCain sounds like Bush's doublespeak, "There should be no bailout BUT...(insert bailout)."

Anonymous said...

GOP Massive credit bubble is 1.2 TRILLION, so says Goldman Slacks.

If they say it's $1.2 trillion, prepare yourselves for $10 trillion.

Anonymous said...

McCain is still dumb as dirt.

Anonymous said...

McCain wont spend any of your tax dollars on bailouts of any kind.
He knows he is going to need the money for his 100 year war.

Anonymous said...

Obama=more affirmative action, quotas, more discrimination lawsuit 'legislation'. That will be his only legacy as pres.

do NOT vote 4 dems, they gave us all this insane college admission quota crap!!

Anonymous said...

Getting out of Iraq is foolish. McCain is a realist and understands that in the coming decades we will need exclusive access to their oil reserves. When the sheeple can no longer afford to fuel their vehicles, heat their homes or buy food, they will become much more receptive to the concept of blood for oil. History may look more favorably on the Bush administration's foreign policy than many presently assume.

Anonymous said...

Smart man! He wants all the houses to foreclose so he can give them to amnesty... I mean Banana receipiants. F MCcain his views havent changed!

Viva Mexico!
F Realtors!
F McCain!
F Bananas!
F Hillary!
F Obama!

Anonymous said...

Tough talk from tough guy McCain but why believe him? He has a record of expanding government whenever it suited his political agenda.

Only Ron Paul can save us from the Bush Depression

Max said...

If McCain really meant what he said, he is spot on.

Frank@Scottsdale-Sucks.com said...

"Getting out of Iraq is foolish. McCain is a realist and understands that in the coming decades we will need exclusive access to their oil reserves. When the sheeple can no longer afford to fuel their vehicles, heat their homes or buy food, they will become much more receptive to the concept of blood for oil. History may look more favorably on the Bush administration's foreign policy than many presently assume."

Exactly. For all the Fox News hatemongering around here, John Gibson is the only person in the MSM who openly admits that this is not only a war for oil but that we need to follow through just for the oil.

4,000 dead in Iraq

vs.

Millions dead in mass chaos, civil breakdown, no power, light, heat, food, transportation etc due to no more oil.

Take your own choice.

Anonymous said...

The government can't afford to bail this crash out . The sooner that people realize that the better off everybody will be .

Anonymous said...

Getting out of Iraq is foolish. McCain is a realist and understands that in the coming decades we will need exclusive access to their oil reserves. When the sheeple can no longer afford to fuel their vehicles, heat their homes or buy food, they will become much more receptive to the concept of blood for oil. History may look more favorably on the Bush administration's foreign policy than many presently assume.

That's the dumbest sh!t I've heard in a long time. Yeah, we should sacrifice more trillions of dollars, more soldiers lives, more innocent Iraqi civilians lives to secure "our" oil so we can keep pumping our Hummers full of cheap gas instead of using public transport.

Man, you really are one thick bastard. It's unbelievable that people actually think like you do. I guess the right-wing fascist talk radio brainwashing has really affected you. Poor schmuck.

Anonymous said...

Voted for Ron Paul in the primary.

Will Vote for McCain in November.

The blogs are having a positive effect on the establishment. Maybe the USA would not have gotten so far off track had the internet been invented 100 years ago. Better late then never.

Anonymous said...

I guess McCain was predictability silent about taxpayer money to shore up Wall St. What a surprise.

Ed said...

And yet you still support Obama.

Amazing.

Ed said...

4000 soliders died in one day in some WW2 battles in the Pacific. Had people like Hill-a-bama and DailyKooks been around, we would have called WW2 quits somewhere in February 1942.

Anonymous said...

>> I was hoping to vote for Democrats if Hillary was the candidate...

When you were much younger, and someone told you that one day you would be, by personal choice, voting for a devout Marxist for President of the USA, would you have believed them?

bobbyg said...

Did you actually read this article? McCain wants to exclusively blame homeowners/flippers/speculators. But he has ZERO intention of regulating Wall Street and advocates the Bear Sterns bailout. WS was the main culprit adn they get away clean. Wake up!

Anonymous said...

1. Re-reading the bold type, I don't think there's too much there that hill/obama would find totally unacceptable - some
bullshit compromise should be possible...

2. One of the BIG problems is the administrative cost of sorting through all the loans, re-doing all the paperwork/appraisals/documenting
income and verifying - to properly implement McCain's policies would require that to be done - every program that has been announced is trying to skip that work buy using automated scams...

3. Maybe you can sort out speculators who never lived in a house ( even that isn't too hard to fake ) - but what do you do with folks who overextended themselves on teaser rates planning to do some upgrades ( or not ) while living in it, and then sell in a couple of years at a nice gain - are these speculators or homeowners???

Anonymous said...

McCain sounds like a decent man. Too bad he is too old.

Like Ron Paul, who was a shining rod in a sea of mediocracy, he is old as well.

Obama....that is a ckarckpot smooth talking do-do.

And Hillary.....so sorry...reminds me of any caller to the Dr Laura's show.

America, God bless you and get ready for some d-rated administration

Anonymous said...

4000 soliders died in one day in some WW2 battles in the Pacific. Had people like Hill-a-bama and DailyKooks been around, we would have called WW2 quits somewhere in February 1942.

Hey dumbass, WWII was a declared war against a very real, powerful and dangerous enemy. An enemy with a formidable army, navy and airforce.

What the f*ck is Iraq? How does it compare to Nazi Germany dumbass. They've never been a threat to the US and certainly are not any threat now. How is it that the nation with the most powerful military and intelligence organisation on the planet is in fear of a handful of arabs hiding in caves or in some sh!thole like Iraq?

Typically you go ahead and assume we're all pussy-assed liberals because we're anti-war. I'm a f*cking REPUBLICAN you d-bag. When did right wing become pro-war - how does conservative equate to pointless warmongering?

Anonymous said...

4,000 dead in Iraq

vs.

Millions dead in mass chaos, civil breakdown, no power, light, heat, food, transportation etc due to no more oil.

Take your own choice.


John Gibson is a retard if that's the way he thinks. Oil is not suddenly going to dry up one day. We're not going to go from oil abundance to zero overnight. Oil reserves will deplete over a very long period of time and society will simply adapt.

People will have to trade their Hummers for hybrids but that's hardly a doomsday scenario. Our markets and society will have to adapt but it's hardly the end of the world and it's an adaptation process that will happen over time.

As oil reserves dwindle the cost will simply increase over time and industry will adapt to using alternative energy sources.

It's happening right now in the increased cost of gas which is changing people's habits. Besides how has invading Iraq helped with the cost of gas? It's actually increased because the war was EXTREMELY costly in dollars and lives (US and especially IRAQI).

All of these people that scream Peak Oil End of Times are just completely retarded.

Anonymous said...

Can we stop with the "homeowner" term, it is very missleading and use an accurate word such as "borrower" or "future homeowner" or "homeslave"

NeuroAZ said...

We're in Iraq for the oil?

Total Petro Imports, Top 15 Countries

belchorama said...

FWIW, this speech brought me over to the red side. This is and has been my #1 issue for the last several years, I would guess this is the case for many of the readers here. Obama and Hillary are talking bail out, McCain is saying no bail out, and open up the books of the financial institutions. McCain seems to get it, Obama and Hillary don't. I've hated the Republican party for the last 7 years, but...go McCain. I think I'll actually vote for once.