Posts Tagged ‘mortgage bailout’

The Truth: What Obama and McCain won’t tell you about your money

Some straight talk, not from the “Straight Talk Express” or the “Messiah for Change,” but from an American entrepreneur:

Not all homeowners deserve to stay in their houses.
Renting is a perfectly reasonable alternative, but the idea of Americans “losing their houses” is politically untenable. Why? Because America perpetuates a mistaken culture of homeownership. Owning your own home is the kind of BS sacred cow that got us into this mess: Our parents tell us to buy a house. Our friends are impressed if we own a house in our twenties. The government literally encourages us to own a house by offering tax deductions. Homeownership is the American Dream!

The Truth: What Obama and McCain won’t tell you about your money | I Will Teach You To Be Rich

What Just Happened?

Linder: `Mark to Market` Explained

My Congressman, John Linder (R-7th GA), provides a good explanation of a phrase heard often during this week’s debate on the mortgage crisis. Linder points out that, contrary to the claims of the alarmists, there are options for dealing with the crisis.

I hear those of you who say, `Don’t lift a finger to help Wall Street.` And, I hear others who say, `Please help because as goes Wall Street, so goes Main Street.` My message to both of you is that we have a lot of options available to us including regulatory relief and tax relief options that will make you both happy. I recognize that credit crunch is serious, and I want to be helpful in crafting a solution. But before I vote to mortgage my childrens’ and grandchildrens’ future by spending another $700 billion that America does not have, I can guarantee you that I will have explored absolutely every other option possible.

.: U.S. Representative John Linder :.

How to Solve the Financial Crisis

From one of my Georgia Senators, Saxby Chambliss, on the bailout bill:

“We are seeing the symptoms now – lack of trust in the banking industry, daily tightening of the credit markets, losses in personal retirement accounts – and while this legislation addresses those issues, it also goes further to treat the cancer that got us here.”

No, it doesn’t. If it did, it would have contained term limits on U.S. Congressmen.

Three Steps to Change the Nation’s Future

Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy.

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Why Obama Can’t Go to Washington

It is being reported this morning that, while John McCain has returned to Washington to lend his experience and influence to the bailout negotiations, Obama has remained on the campaign trail.

In truth, Obama can do nothing else. On the stump, Obama is a rock star with a huge popular following. In Washington, however, he is little more than a still-wet-behind-the-ears freshman legislator with little influence among his colleagues. Obama would look small and insignificant standing next to McCain in a city where the former P.O.W. is highly revered.

Obama may be popular among naive, gullible voters but, in D.C. he’s a newbie who hasn’t earned his stripes. If elected President, I suspect that he will quickly be relegated to “lame duck” status, even by his own party.