Our politicians suck.
Period.
Full stop.
Here's how HP reported McCain's no-going-back "F*ck you housing gamblers" speech from March 31:
______
John McCain draws a crystal clear line in the sand - NO GOVERNMENT BAILOUTS FOR FAILED BANKS & MORTGAGE GAMBLERS. Well, maybe not that clear of a line
"It is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers"
- John McCain, before he eventually modifies his position after seeing the media coverage, polling data and drop in contributions
______
And then sadly, predictably and right on schedule, here's the gutless poll-reading uber-politician McCain today, urging a massive taxpayer-funded bailout for housing gamblers and failed flippers.
Straight talk my ass. John McCain is just another snakey, smarmy, two-faced, spineless and REIC-corrupted politician, undeserving of your support. Too bad the GOP didn't nominate a real man. Too bad Americans hate honest politicians like Ron Paul.
McCain Shifts on Aid to Some Mortgage Holders
Senator John McCain, who drew criticism last month after he warned against broad government intervention to solve the deepening mortgage crisis, pivoted Thursday and called for the federal government to aid some homeowners in danger of losing their homes, by helping them to refinance and get federally guaranteed 30-year mortgages.
“There is nothing more important than keeping alive the American dream to own your home, and priority No. 1 is to keep well-meaning, deserving homeowners who are facing foreclosure in their homes,” Mr. McCain said in a speech on economic themes
Mr. McCain, an Arizona Republican, had been painted as uncaring by Democrats, and drew murmurs of concern from some Republicans, after a speech in California last month in which he cautioned that “it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers,” and noted that the crisis had been brought on by both lenders and borrowers.
Since then, he has gone out of his way to try to signal that he understands that times are tough and that people are hurting.
The mortgage plan that Mr. McCain unveiled — which his advisers said was designed for needy homeowners, and not financial institutions — would apply to people who were falling behind on payments on their primary residences who could show that they would be able to meet the terms of a new, 30-year fixed-rate mortgage. Mr. McCain also called for the Department of Justice to investigate the industry.
In his remarks, Mr. McCain did not mention how much his plan would cost, but his aides said it would help 200,000 to 400,000 homeowners.
April 12, 2008
As predicted here, and right on schedule, the spineless and poll-reading John McCain flip-flops on bailouts for housing gamblers
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The reporters says "Pivoted"?
Try "Flip-Flopped"
He sucks, just another liar
Quote from below YouTube-video "Real-Estate Flipper": www.tinyurl.se/f8e81a
"You know you are effed when you cant give away a house for a $500 move-in and you make the first two payments"
The reporters says "Pivoted"?
Try "Flip-Flopped"
Try lied.
I was a lukewarm McCain supporter that was thinking of donating some $ to his campaign. As soon as I hear this, I called his campaign HQ (contribution phone #) and told them there's no way I'm giving them a penny.
The best spin McCain supporters can put on this flip-flop is that McCain knows that these proposals, as narrowly tailored as they are, won't prevent any foreclosures, and thus are a cynical job of puffery for the press only.
Alas, I think that statement assumes a level of economic understanding (not to mention campaign management technique) that eludes McCain.
Sigh.
-ZDog
Man oh man. The money is really starting to talk now.
Funny thing is that by the time the next president is inaugurated, the only tidal wave that is left is the f*cked Option ARM borrowers, and he/she can kiss my ass if any of those bastards are bailed out. "Oh, I didn't know 'Pick a Payment' meant that my loan balance could go up. The lender duped me." Bullsh*t! How could you not know? Use the damn Internet to do some research for Christ sake, instead of looking up Britney Spears and Paris Hilton gossip every waking moment. There's this thing called GOOGLE where you can actually search for types of mortgage loans and how they work! Imagine that! Using the Internet to do RESEARCH!!!
IDIOTS!!!
Same kind of Straight Talk(TM) that went from 'agents of intolerance' to kissing the ring of Falwell and the Religious Right
McCain's a fraud
http://tinyurl.com/3shx2e
McCain Flip-Flops on the Housing Bailout
John McCain completed his about-face on government intervention in housing bailouts today, voicing support for legislation that does what he said last month the government should not do. Notice I said voicing support, because spineless John didn’t make it to Washington to vote yea or nay, so as not to be on the record I suppose. Who knows maybe he’ll change his position again later.
It’s nice to see that the media love affair with McCain continues, too. In the Washington Post article this was the first paragraph:
"Senator John McCain, who drew criticism last month after he warned against broad government action to solve the deepening mortgage crisis, pivoted Thursday and called for the government to help qualified homeowners with subprime mortgages refinance and get federally guaranteed 30-year mortgages."
Pivoted? If anybody else did that the headline would be Flip-Flop in bold type.
http://tinyurl.com/64shfq
“Just two weeks ago, Senator McCain said he’d rather do nothing than something about the housing crisis,” said Mrs. Clinton, who ran an advertisement suggesting that Mr. McCain was unprepared to handle middle-of-the-night emergency phone calls about the economy.
“Apparently, Senator McCain got the message,” she said. “Letting the phone ring and ring is not the way to respond to housing crises.”
Mr. McCain, who does not always sound comfortable discussing the economy, is also laboring to undo any damage from the Republican primaries, when he was accused by a fellow Republican, Mitt Romney, of not knowing much about the economy.
I hate it when politicians flip-flop. That is one thing John McCain is known for not doing. I would still consider him about as honest as politicians generally get - even though I don't agree with a lot of his platform.
I believe the true McCain was the one who was opposed to bailouts. After all, why would you voice something unpopular like that?
It comes down to this: would you rather have someone who is really against bailouts and just gives some token support to a smaller-scale bailout for the sake of getting into office, or someone who is dead-set on a full-scale, rape the American taxpayer, bailout the likes of which the Dems are calling for?
I wish Ron Paul would stage a coup and just take over this damn place. I would rather have him as dictator than live in a "free" democracy with the clowns that run our country now.
I'm voting whoever the Libertarian candidate is. I know it's a "wasted vote", but if we keep choosing the "lesser of 2 evils", we'll never improve this country.
I have a slight preference of McCain over Obama. But I won't be upset if Obama wins. And I'd rather have Satan than Hillary. But none of them are good choices for this country. Sadly, there are just too many stupid people in this country to ever vote in a good president who has both integrity and knows what he/she is doing.
Disgusting. McCain has been bad news for years now. Amnesty, McCain-Feingold, etc. I thought maybe, just maybe he'd turned a corner when he gave the original speech. How wrong I was. Typical politcian who will change views as soon as the polls change.
Some one needs to show him this-
Subprime in stick figures
http://tinyurl.com/3jl2pq
http://www.usnews.com/blogs/capital-commerce/2008/04/10/mccain-joins-the-bailout-bunch.html
McCain Joins the Bailout Bunch
When John McCain gave his housing speech a few weeks back, just about everyone in the MSM (for newcomers, that's the mainstream media) interpreted it wrongly but me . The typical take treated it as some sort of hyperlibertarian, "McCain to Homeowners: Drop Dead" kind of deal. But it wasn't.
McCain was merely making it clear that he was against the government cutting checks to every homeowner with a gripe about his mortgage. In fact, McCain advisers say they felt the whole debate—including the congressional Frank-Dodd bailout approach—showed movement toward the McCain position of favoring targeted aid, not some broad financial amnesty for everyone who took out too big a mortgage or bought his house at the peak of the market.
McCain Defends His Housing Plan
Elizabeth Holmes reports from Lubbock, Texas on the presidential race.
Sen. John McCain disputed charges of flip-flopping on his plan to address the housing crisis Friday, saying that his Thursday speech promoting increased government intervention was consistent with his past remarks. “It’s just factually incorrect,” he said, to suggest otherwise.
In speaking to the press for the first time in nearly a week, the expected Republican nominee was supplied with several pages of prepared remarks on his plans for the economy.
He disputed suggestions that his plan resembles legislation sponsored by Democrats Sen. Chris Dodd of Connecticut and Rep. Barney Frank of Massachusetts.
Both the Dodd-Frank proposal and the McCain plan would be open to homeowners who owe more on their homes than they are worth. Both would require lenders to write off part of the principal and, in exchange, the new loan would be backed by the federal government through the Federal Housing Administration. The Democratic plan is more expensive, though, and aims to help more homeowners.
McCain said his plan is aimed at the homeowner, not the lender—and hammered home the scope of his plan. “There are hundreds of thousands of homeowners who could benefit from this plan immediately,” he said. He did not mention, however, that the plan is estimated to cost between $3 and $10 billion.
http://blogs.wsj.com/washwire/2008/04/11/mccain-defends-his-housing-plan/?mod=WSJBlog
From the guy who voted against the Bush tax cuts before voting for them
The pool of recent homeowners declaring bunkruptcy will grow as a consequence of this bailout.
Why? They sure would want to jump on the wagon and benefit from this Government largess, even if they can afford to pay their mortgage. Congress is opening a can of warms.
Taxpayers! do not stay on the sideline; sign the e-petition and stop paying your mortgage, just in case the US Gov proceeds with this massive fraud against honest, reasonable Americans.
American leaders have no backbone and have forgotten "GOD."
America is really f*cked! Look who we have lined up to lead us. I cannot fathom any of the three idiots left in the race being at the helm.
The only solace is that one of them is going to replace an even more moronic one.
Don't we deserve better than this? Maybe not!
"Funny thing is that by the time the next president is inaugurated, the only tidal wave that is left is the f*cked Option ARM borrowers"
It may the last one, but it's a pretty damn big tidal wave. The Alt-a and option ARM resets are going to be the biggest by far and they'll be going on from 2009-2011. If McCain were smart he would tell Americans WHY it's stupid to bail people out using tax payer money. The banks are going to have to write down the mortgages and interest rates on their own! If tax payer money is used then the dollars they're holding are going to become worthless.
Obama is going to eat this guy alive.
Hey Keith, what's your boy Obama's stance?
Folks,
First, I'm not some huge McCain supporter. I believe he, Obama and Hillery all are junk.
However, this "flip flop" foaming is a little over the top.
For the record, 4 US Senators did not vote on this bailout i.e. they abstained/were absent for the vote.
Take a WILD guess who they were?
McCain
Obama
Clinton....
and Dole.
I think Dole was probably really out sick that day... but the other 3... come on... they're all doing the same thing.
Where is Jack Ruby when we need him?
Thanx for bird-dogging the scumbags and holding them accountable for flip flopping on issues.
ALL politicians flip flop. It is only a matter of degree.
The house of cards is really starting to teeter and shake so as we get closer to the actual collapse the more we will hear about "bailouts" and "emergency actions". But in the end...NOTHING can save a house of cards.
A structure built of greed and smoke & mirrors instead of good sound principles MUST fall. And the higher you stack em, the bigger the mess when it all comes down.
All efforts are being made to keep things looking "ok" until the new administration takes office. Bushco does not want the actual collapse on their record. As if...
McCain, who had been painted as uncaring by Democrats...
No. Dems wouldn't use good policy to smear someone!!!
Don't miss the big picture:
McCain, HRC and BO are all taking $$$$ from George Soros. Soros is short the USD and America itself.
What are you guys so upset about? He came out and thought we should go with plan A. Then after he heard people's complaints, he listened and went to plan B. Isn't that what they are supposed to do, listen and do what we want them to? Of course what if 95% of the people are total idiots and don't know what should be done? Well, then the politician has to say one thing while the more intelligent people in control do something else. The politicians are there so we have someone to cry to and so that it appears as though we have someone who listens.
Keith, I request a front page post on the Obama "bitter" controversy. You know, the one where he says that because all the manufacturing jobs have been shipped overseas under the cover of "conservatism" that people are bitter?
You can find the retort here:
http://www.youtube.com/watch?v=Sc9PepjyDow
Neither of the three remaining candidates have the vision that Ron Paul brings to the race; but there is one who realizes that the economy needs to be based on good solid jobs, not theft and deceit.
Hey, the GOP created the housing bubble, so it's only natural that the GOP will bailout all the scumbags. It takes one to know one.
And Keith, if you feel disappointed with McCain now, wait until your Messiah Obama turns this country into a socialist welfare heaven. Obama is the new Hugo Chaves.
and i should be surprised by this?
I hate it when politicians flip-flop. That is one thing John McCain is known for not doing.
Are you kidding me? That wife-beater has flip-flopped on a zillion issues, from kissing Rev Falwell's arse to tax cuts.
So sad that the sheeple population still thrives in this country. Even with the advent of the Internet the majority maintains clueless!
How wrong I was. Typical politcian who will change views as soon as the polls change.
PIGS FLYING ALERT!!! Ed has found his dusty brain somewhere in his mom's basement.
J6P is picking up on this. my dad, who is as blue collar as they come, gave me an earful rant about McCain sounding like the Democrats and bailing out the banks and undeserving debtors. there's hope yet folks, not hope in the system but hope that J6P will see that the system is rigged to f*ck him no matter if it's a Dem or GOP administration.
Is John McCain a spineless piece of sh*t?
That's a tough call but he appears to walk upright so I would have to say no.
I called that one right from the start. McLame is the king of flip-floppers.
Tax cuts in war time.
That's an inconceivable Republican concept.
Go ahead, morons, vote Republican. It's just as real as the housing bubble.
Go ahead, be stupid again. We expect it of you.
Where was bailout Ben and all these loser politicians while I was losing my ass trying to commit mortgage fraud?
WHO CAN TAKE A SUBPRIME,
SPRINKLE IT WITH DOO?
CONVERT IT TO AAA WITHOUT A MIRACLE OR TWO
THE ORANGE MAN, THE ORANGE MAN CAN
THE ORANGE MAN CAN, CAUSE HE FIXES RATES WITH LOVE
AND MAKES THE CDO'S SELL GOOD
.
WHO CAN TAKE A MORTGAGE
WRAP IT IN A LIE?
SELL IT TO FREDDIE AND MAKE THE FED CRY
THE ORANGE MAN, THE ORANGE MAN CAN
THE ORANGE MAN CAN, CAUSE HE FIXES RATES WITH LOVE
AND MAKES THE CDO'S SMELL GOOD
.
THE ORANGE MAN MAKES
EVERYTHING HE FAKES
SNEAKY AND MALICIOUS
TALK ABOUT GREENSPAN'S WISHES
YOU CAN READ THE TRUTH ON MISH'S
.
WHO CAN TAKE A BORROWER
HAVE THEM SIGN A REAM
INDUCE THEM TO BORROW AND SELL THEM THE AMERICAN DREAM
THE ORANGE MAN, THE ORANGE MAN CAN, THE ORANGE MAN CAN
THE ORANGE MAN CAN CAUSE HE FIXES RATES WITH LOVE
AND MAKES THE CDO'S SMELL GOOD
CAUSE THE ORANGE MAN THINKS IT SHOULD
DOPES!!!
And this is a surprise? He is a politician so this is just business as usual. Anyone who ever thought this tool was different from all the other politicians needs to get their head examined. He is as corrupt and as much of a spineless/soulless liar like the rest.
In "liberal biased media" world, Republicans 'pivot'. Democrats 'flip-flop'.
I will not vote .Our there really more irresponsible people out there people who are responsible ? Next thing you know they will be giving them the houses. I just can't understand how it could work how about the people who already lost there home ? How about when price go up will the make the profit.
Pigs flying indeed. I think this talk of 'bipartisan compromise' and 'change' and the usual love fest in the media is a big pile of realtorshit. Guess what?! The politicians are corrupt because...the people who elect them are just as corrupt. Go ahead and look at all the cronyism and chumminess in your own backyard. It's the same from NYC and LA to the little farm town in the heartland. People bitch and whine about how Bush is a liar and a traitor, well, NO SHIT EINSTEIN! Bush flip flopped on his views just like McCain does, just like Kerry did, and so forth. People said all sorts of stuff about Bush when he ran for office. Problem was, the dumbass middle class was too worried about the dotcom blowup to pay attention. They conveniently forget that the first Bush said "read my lips, no new taxes", but they came anyway. People whine about how the government is big and intrusive, well, you voted for it. There are no libertarians in America for the most part. 99.9% of the politics in America are CYA politics. "Make sure my tax deduction stays put, and make sure that those laws I wanted stay, but you can do whatever you want with the rest of government." It's bullshit and everyone knows it.
The problems in America aren't new. People were bitching and whining about the price of rice, housing, gas, insurance, dirty videos, etc. long before most of you were born. If you're so libertarian, then why do you care if the price of a house is $500,000 or $100,000 or $5,000 or $2? And where were you when Reagan was running up the deficit? Or when Nixon was fiddling around in the Oval Office or Clinton was getting in bed with the Chinese leaders? Huh? What about Johnson and his goofy administration?
Hypocritical, do anything to get elected, yes. Spineless? Please. I in no way will vote for him as he is dangerous but the guy displayed unquestionable bravery in Viet Nam. Your poll is in extremely bad taste and quite frankly digusts me.
My #1 fan anonypussy 5:35 is back. I missed you dude. I was worried your father found out about you and your sister and hurt you so he could have her all to himself or something. Glad you're OK.
Who's McCain? Never heard of him.
.
He looks like Charlie Chaplin in his later years!
.
I nominate John McSh1tstain for the annual political award for "Profiles in Cowardice".
What a gutless, spineless weasel.
No one can force you to vote for McCant or Obama or the Harpie. You can vote 3rd party. Your one vote matters not anyway. Better to be 1 honest vote out of a million than a chump vote out of 50 million.
A Great Article! I just can't bother to vote for any of these idiots. Voting is a great joke to begin with - a single lobbyist with a $100,000 check can easily outdo a million voters wishes.
Now, I have a Great American Dream of owning a sparkling new Bently. If I buy one with $100 down, and take a loan for $399,990 for 15 years, will Uncle Sam help me if I can't make the payments? Why not? Debt is Debt --- isn't it?
F*ck John McShitstain.
First:
Illegal immigrant Bailout
Now:
Stupid FB Buyer bailout.
He needs to go out along with his mentor Jorge Bushco.
Give him an Oldsmobile dealer in Flagstaff to be president of...
There is a very important distinction between John McCain's bailout and the Democratic bailout.
The avowed purpose of the Democratic bailout is to maintain housing prices at their current outrageously high level. Preventing price declines is a very rigid goal. Thus the full scale bailout pushed by Schumer and Frank, and approved by Clinton and Obama. Lenders and investors are the primary beneficiaries in this approach. Taxpayers, savers and ESPECIALLY future home buyers will pay the price.
On the other hand, both George Bush and John McCain acknowledge that prices are unaffordably high, and a downward price correction is natural, necessary and beneficial. John McCain's limited borrower bailout seeks to help "deserving" borrowers, and he supports Wall Street bailouts only if absolutely "necessary" to prevent a complete collapse of the entire financial system. These are flexible goals, and could result in a very limited bailout indeed, depending on the definition of "deserving" and "necessary". A limited number of borrowers would benefit. Taxpayers and savers would pay a price, but a much smaller price than under the Democratic plan, and future homebuyers would not be victimized.
"Mr. Obama said . . . Senator McCain's solution to the housing crisis seems a lot like the George Bush solution of sitting by . . . while families . . . watch the value of their homes decline."
Or, from my perspective, Senator McCain's solution to the housing crisis seems a lot like the George Bush solution of sitting by while future buyers watch the affordability of housing increase.
Obama's solution, on the other hand, will make this working class American very "bitter" indeed.
Keith, you support Obama because he opposed the Iraq war and he is a social liberal. OK, fine. But please, don't try to pretend there is no difference between McCain and the Democrats on the housing issue. McCain is not a price fixing REIC puppet like Schumer, Frank, Clinton, Pelosi, Reid, Dodd . . . AND OBAMA!
Sincerely,
John Charles Gruskos
A TRUE opponent of the REIC
P.S. - I repeat, the worst aspect of the bailout is the intention to fix house prices. If successful, this will constitute a multi-trillion dollar, government coerced wealth transfer from future buyers to current owners.
Who cares about Mac, I'm enjoying how Demo-morons smacking each other ... HRC-O, O-HRC, priceless... Best comedy ever, LOL
McCain always supported bailouts but the media quoted the wrong part, as I warned back in March:
"John McCain (R-AZ) "will consider any and all proposals" for bailouts in the housing/credit crisis and seems intent on some type of regulation with only the details in question, despite the recent, misleading media surge about a laissez faire (hands-off) approach. UPDATE 4/1/08: McCain economic adviser and former Hewlett-Packard CEO Carly Fiorina confirmed that McCain opposes laissez faire and supports "appropriate reform" to empower government to pick winners and losers in the Great Housing Lottery."
http://tinyurl.com/5ey96t
Hey, John Charles Gruskos.... any form of bailout of home buyers or banks is supporting price fixing. The governments place is not to absorb risk from the private sector, that is what private insurance companies are for. Let the home buyers and the banks fail, it is how capitalism is supposed to work.
McCain just F'd up big time!!
I will NOT be voting for this flip flopping bastard now.
RON PAUL!! Get back in the race baybeeeeeeeeeee!!
Hey holysclitz . . .
I didn't say I supported the McCain bailout, I only said that the Obama bailout is much, much worse. In McCain's plan, any price fixing will be an unintended consequence, whereas price fixing is the raison d'etre of the Democratic plan.
The Democrats have made "preserving homeowner equity gains" a conscious goal. Because they are consciously striving for a price fix, the scale of their bailout is much greater.
Also, consider this: there will be many truly deserving borrowers in trouble in coming years, and charities should exist to help such people. A deserving borrower is someone who:
1. Did not lie on their mortgage application.
2. Did not use unethical means to boast their credit score to obtain a mortgage.
3. Used their life savings to make a 20% downpayment on the least expensive home available in their local market.
4. Did not submit to the "jingle-mail" temptation when their equity turned negative.
5. Dream was home-ownership, believed realtor's "priced out of the market forever" lie, bought at the peak of the bubble. Monthly payments stretch borrower to the limit.
6. Lost job during recession, which was caused by credit/housing bubble.
I would give money to help people like that keep their homes. That was almost me!
So even if I do not agree with John McCain's bailout, I certainly understand why he has "pivoted".
I do nNOT understand why the Democrats want to preserve the imaginary bubble-wealth of Wall Street and Homeowners.
Hey, I am not trying to get in to any kind of flame war/pick a fight, but any form of bailout is going to prop prices up, regardless of who supports it. I don't any difference between any of the three candidates. Who ever wins is going to do what their corporate masters tell them to do.
I understand that good people are getting hurt and more will be hurt in the near term. I am all for charities helping people, but not the government. As a nation we are broke, and borrowing money to give it away in an effort to bail people out is only going to make matters worse for everyone in the long term.
quote: A deserving borrower is someone who:
1. Did not lie on their mortgage application.
2. Did not use unethical means to boast their credit score to obtain a mortgage.
3. Used their life savings to make a 20% downpayment on the least expensive home available in their local market.
4. Did not submit to the "jingle-mail" temptation when their equity turned negative.
5. Dream was home-ownership, believed realtor's "priced out of the market forever" lie, bought at the peak of the bubble. Monthly payments stretch borrower to the limit.
6. Lost job during recession, which was caused by credit/housing bubble." end quote
/////The total number of people that would meet your criterium should equal about five people in the whole country!
Get real! McCain flip-flopped because he's pandering for votes. Don't get hooked on his "deserving homeowner" bullcrap. McCain is just another politician who will say anything to get elected. Looks like his "straight talk express" is more like the "crooked bullshit donkey cart".
Hey look at that! He flipped and flopped? Do You think he would do that on the immigration bill? Do you think he would sign a "Banana bill" if it crossed his desk?
Viva Ted Kennedy!
Viva Mao Tse Tong!
Viva MEXICO!!!!
Remember Jamiel Shaw!
:Looks like his "straight talk express" is more like the "crooked bullshit donkey cart".
April 14, 2008 12:16 AM"
Poetry. Thank you.
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