Financial Meltdown Could Help Barack Obama's Campaign

Wall Street Bailouts and Taxpayers new debt.

The one caveat I have for the new agency, which plans to put these bad debt mortgages in, is that a provision in the restructuring should provide a way for people that are in these mortgages to be able to stay in the home. One idea would be to renegotiate the value of the property back to an equity position with the caveat that they could not sell their home, for eight to ten years or some other appropriate time frame. The reason that I would like to see this put into the terms for use of this agency to stabilize the mortgage market is that if something isn’t done the power structure that will be controlling this new agency will likely sell off these homes at a larger loss than leaving people in the homes or working out something for them. If this doesn’t happen many insiders, the money crowd, Wall Street types you know the folks that got us in this mess to start with will come in and buy these properties up for pennies to the dollar at taxpayer expense leaving the homeowner homeless the taxpayer on the hook for the costs and the rest us no better off than we are now. There could be a deed restriction on these homes that required them to pay the proceeds out of the home or of the equity of the home as a penalty for moving too fast. The whole idea for this bailout is to stabilize the mortgage market financial market and the economy.

It seems that everything is being done to protect the Wall Street companies but nothing is being done to protect Joe Six-pack that was just time to buy a home to live in.

Obama Wastful with Campaign Money

If I had to entrust my money to Obama or McCain, you bet it would be to McCain. He knows how to run a campaign on far less money than Obama (not that he would not like to have as much). Step back and consider how Obama and a veto-proof Congress would run through money and redistribute wealth to those who could not afford housing.

The spin masters are doing their best to blame this mess on republican deregulation

But the american people are not fools!

Democratic party backed ideas, supported by Obama among others, of lending money to people who are "disadvantaged" and less likely to be able to pay it back- caused this mess!

McCain was one of those who was opposed to it.

If you are open minded enough to consider this point of view-

read more here:

How the Democrats Created the Financial Crisis:

http://www.bloomberg.com/apps/news?pid=email_en&refer=&sid=aSKSoiNbnQY0

Chance to Obama

The problems of McCain is weak on economy, and yet he is not able to pick the best brains - just look at he pick his running rate! What kind of hope do we have on him? Bush's 8 years is long enough, lets give a chance to Obama. He is no doubt more capable than McCain for sure. If Palin is the best McCain could pick - there no hope for other issues.

Bankrupt

The republicans and wall street have bankrupted us financially, with the dollar worth nothing.

The democrats and hollywood have bankrupted us morally and spiritually, with the plague of pornography and lack of standards pervading society.

Who to vote for? I think Libertarian now. Will it matter?

The country - no, the world -- needs both the massive depression and subsequent plagues to come. Sorry for the harsh words, but it will leave those remaining a better and stronger group of people.

THE REPUBLICANS HAVE SPOILED AMERICA

MCCAIN AND BUSH plus the rich wall street buggers have really put Americans in a mess.

FOR A NEW ECONOMIC ORDER,REPUBLICANS LIKE HAVE CHOSEN TO VOTE FOR OBAMA COME NOVEMEBR

OBAMA FOR PRESIDENT

AMERICAN CAN DO BETTER.

Deregulation was part of the cause

Republicans are spinning like mad, trying to avoid facing up to an uncomfortable truth: It was their deregulation of the financial services industry in the late 1990s that enabled the subprime bubble--which led to our present crisis. Obama is absolutely right about that.

In 1999, Phil Gramm's repeal of Glass-Steagall allowed banks, investment houses, etc., to merge, eliminating firewalls that might have prevented, or at least dampened, these financial ripple effects.

In 2000, Phil Gramm's Commodity Futures Modernization Act gutted Federal oversight of derivatives, such as credit default swaps, which have powered the interlocking financial market today (and were a prime cause of AIG's collapse).

The Republicans keep trying to blame Fannie and Freddie (no doubt because prominent Democrats are associated with them). But without the above deregulatory steps that created the market for bizarrely complex derivatives, the problems with Fannie and Freddie might not have percolated to the rest of the economy.

In light of all that has happened, we need to rethink deregulation. Keep what's good, but fix what failed.

it's " We, the People" , not We ,the Labratory mice

I agree with Bill Moore in Michigan [re: Media exacerbating market ] When choosing ones' method & manner of stating the obvious are especially important-leave it to the Media to "stoke " fear.That is their Business .Moving as one across the floor with their partners , the Democrats , news anchors suggest,incinuate,infer & extrapolate to just the saturation point. Too overt & the desired effects would be negated .In 2000 , an interviewer asked Green Party candidate Ralph Nader if he was concerned about the possibilty that his bid might cost Al Gore the Presidency.Nader replied that if it took a Bush victory to bring us to the point where his policies would be our only way out it would be worth it.That kind of hubris & disregard for the American people as a whole is the calling card of the Obama /Biden wonks .

U.S. Mortgage Meltdown

My My, I am so shocked that the openminded and enlightened readers here all find the Republicans guilty of allowing this mess to occur. Should any of you be interested in finding out what really happened and who the guilty parties are I would suggest that you read the following article.

http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=75717

It's obvious to all those with open eyes that this mess started well back in the Clinton days and was seriously out of control by the time Pres. Bush took the helm. The fact that the past two CEO's, Raines and Mudd, both incompetent to the extreme, were fired with golden parachutes in the millions for wasting billions of dollars of taxpayer money is unconscionable. At the same time the likes of Barney Frank, Melvin Watt urge the continuation of this broken program. Open your eyes!

Lynn McFadden,

America First!!!

Any prejudices or misgivings Americans had against Obama should have been erased this week as it was a week to focus upon America First and petty little differences last. McCain's fiddling while Rome burned with statements such as the fundamentals of our economy remain strong while the economy is collapsing around him gives new meaning to the term out of touch. So how many mouths must go hungry for McCain to leave the Bush Family Compound and look around and witness the carnage??? It matters little if voters have second thoughts about Obama for any reason, the fact must be to put America First on election day and vote appropriately. Our nation deserves first consideration!!!