it's ok. the desire to borrow and spend is a virtue. Government helps the righteous (i.e. those who borrowed beyong their means) and punished the wicked (those who didn't). otherwise why does the government bail the "homeowners" (many of whom own no equity in their houses) instead of letting the prices fall?
Consider McCain. He was against the bailouts. Then he realized that the conservative viewpoint was not that popular and flip-flopped (voted YEAH on the Senate bill). Why? he's a polititian and can't afford going agains the values of the society. Nobody has won presidency that way (he also flip-flopped on immigration, btw, for the same reason).
We keep hearing arguments about suffering communities or low township revenues but these are mere excuses... Houses dont pay taxes, people do... If local revenues increased because homes became more expensive, it only means that townships hiked taxes! Vote them out and reduce spending, or say ok to tax hike. And the "foreclosure problem" in Ohio is actually unemployemt problem. 70% caused by our broow-and-spend glorious way of living.
Alex V
@
Apr 15, 2008 15:13:59 PM
Who's Ron Paul?
That was a very good catch phrase early on.
BUT people will soon be saying "Where, OH!, Where is Ron Paul?"
This country will be sorry.
Robotsworld
of NY
@
Apr 15, 2008 14:58:43 PM
Ron Paul is a Prophet
Apparently only Paul in this Congress has the...what? The intelligence? The respect for the rule of law and sanctity of the Constitution? The foresight? The vision to see what this will have wrought.
He's seen the writing on the wall in so many cases. rick light II of IN says check in a year. All you have to do to know that he will be proven right is to check what he and Senator Robert Byrd predicted would happen if we invaded Iraq..to the most astonishing degree they both saw the future. And it was bad.
If it weren't for the criminal way presidential campaigns were run, with the emphasis on TV ads and massive multi-state primaries on one day, and the mainstream media hadn't decided from the beginning who WOULD win, the American people would have heard this man's messages and surely, would have 'gotten it'. Obama/Paul? *sigh*
Tony Seaton
of WV
@
Apr 15, 2008 14:44:50 PM
Liar Loan - Borrower, Broker, Appraiser, GSE official - No Bailout for YOU
No relief of ANY kind for anyone who was in the chain of falsified documents for liar loans -
Whoever knowingly makes any false statement or report, or willfully overvalues any land, property or security, for the purpose of influencing in any way the action of .... <lots of government agencies> ... shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.
http://www.law.cornell.edu/uscode/18/1014.html
CitizenBNW
@
Apr 15, 2008 14:38:19 PM
Bail Out
Why oh Why can't Americans see that Ron Paul is the ONLY candidate that makes ANY sense??? What a shame this country has become politically deaf, dumb and blind!
Dolores Czeszel
of UT
@
Apr 15, 2008 14:19:49 PM
The Good Doctors Medicine
One of the reasons us Paulites work so hard it that we know one day the masses will wake up and we rather it before our nation is ruined. Reread this article a year from today and lets see how accurate it is.
rick light II
of IN
@
Apr 15, 2008 14:15:37 PM
Ron is right . . but why is everyone not addressing
Ron Paul is 100% correct. The housing market melt down does not get more complicated than people could not afford the houses they were buying. It does not matter at what percentage point, they could not and should not have been buying houses. When (in my local area) houses were selling 2.5 times as much as they were five years ago and people's saleries were only increasing around 4 percent then the market is way out of step. It is simply a market correction. A bail out would only hurt the market since it would delay the much needed price correction.
It still asounds me that congress wants to help give back past paid tax to the same builders and land prosectors who helped blow the market out of control. There should be an investigation in who in congress benefits. In my local and state area all politicians are also developers.
ClayR
of NC
@
Apr 15, 2008 14:09:53 PM
Re-Educating America
These bailouts are a major assault on the right to own property. Without the responsibility or financial accountability, why maintain your property or even invest one dollar in home improvement. Having the expectation of no penalty for bad decision, and yes, bad luck the homeowner will preceive a limited outcome whether they stick with the property or not. Has anyone seen public housing in a large U.S? Welcome to our future America.
Alex V @ Apr 15, 2008 15:13:59 PM
Robotsworld of NY @ Apr 15, 2008 14:58:43 PM
Tony Seaton of WV @ Apr 15, 2008 14:44:50 PM
CitizenBNW @ Apr 15, 2008 14:38:19 PM
Dolores Czeszel of UT @ Apr 15, 2008 14:19:49 PM
rick light II of IN @ Apr 15, 2008 14:15:37 PM
ClayR of NC @ Apr 15, 2008 14:09:53 PM
RGP of TX @ Apr 15, 2008 14:07:27 PM
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