Analyzing Obama's Plan to Help Homeowners

[912jumper]

My mortgage is more than my house is worth but I bought my house when I had a really good paying job and the economy was good. Then the recession hit and I lost my job. I tried and tried to get my loan modified even if for only 5 years. But no, the loan servicing company doesn't want to work with me. So I think I should just walk away and not worry about being a homeowner. It isn't what it was cracked up to be.

[nCorelli]

And isn't it just so wonderful how you "feel" bad for those people that are going to lose their homes. How terrible that a woman who made $10/hr was duped into purchasing something she couldn't afford. So instead of actually fixing the problem and teaching these people a lesson, what do we do? We continue to subsidize stupidity and reward these people for their greed.

Revolutionary. Right. You know what would be sadly revolutionary now? Telling people to earn what they want.

[nCorelli]

If Cenk Uygur could pull his nose out of Obama's ass for a minute he might (although unlikely) be able to witness the overwhelming hypocrisy in his statements. "instead of taking money from you.." Really Mr. Uygur? Where then does Mr. Obama get his money? From the sales of all the fantastic products the government produces? Oh I forgot, the US Government produces nothing, well, nothing of course except debt.

[base1aransas]

This man makes light of "Unintended Consequences" as the last few administrations have done.

It's time to return to the Founding Principles.

[Mplay1983]

LOL!!! a bit redundant and idiotic.

[skateboardergod7]

Here is a better idea than Obama's plan,

1. Legaliize Heimp ( or something like that)

2. Lower the taxes and so that more people has more money to spend, then they can go & spend their money

3. CHANGE the new taxes too other taxes

4. Give more money to the people to spend

[m3plus2]

How comprehensive and well articulated.

[bits010101]

interesting how after watching this video I look to the right and see an ad that says "do you regret voting for Obama? VOTE NOW"

I'd be more confident if I heard what selection process was going to be used. Anyone can make up a story to look like a victim. So I can't see this being divvied out fairly, sadly these efforts I've seen so far seam like band-aids on gushing wounds. This doesn't look like solid planning, it looks more like "lets throw stuff at the wall and see what sticks".

[cthuluR7]

The Homeowner Affordability and Stability Plan Factsheet indicates the plan focuses on homeowners with a high combined mortgage debt to income ratio. So it selectively bails out people who made little money and accrued huge amounts of debt. The program forces lenders to reduce interest rates so monthly mortgage payments are no higher than 31% of the borrowers income. This will likely cause mortgage rates to skyrocket.

A conservative would call this 'redistribution of wealth'.

[brockhailey]

So all of the 340 million that chose to do things the correct way have to pay for the 5 million that messed up....reward the bad at the expense of the good...people need to be responsible for their own actions, ignorance is not a plead.

[laurasIs2c]

Check out the local houseing that has been worth less than two hundred thousand, those people were taken advantage of through hidden increased payments never discussed before closing. Why should tax payers have to pay all the values of course not. How about the fact that the values of the housing markets were falsely increased and being that evesryone involved played along if some people wind up paying their mortgage great, for those whose homes were falsely valued let the payment be revalued

[stinkypoon]

I'm a renter. Why should my tax dollars go to bail out a greedy homeowner? They bought more than they can afford. They can go rent a house like me now.

[lolointro1]

barry obama is the maan

[atripa645]

roscoe85cj I don't know what they spray in your drinking water down there in Kentucky or wherever but you should learn not debate like we are at a nascar race. If you voted for Bush why not just admit you have bad judgment. Save the drama for the locker room.lol

[atripa645]

These loans also gave the appearance that more Americans could afford a house which benefited the Bush admin. Just like credit card debt, it hides the true poverty of average Americans. It helps feed the American pie idea that everyone who works hard will have a house ,car ect. It's a big myth.

[PeakOilCountdown]

V-E-R-Y_T-R-U-E

[MrMP81]

Cenk, Sorry, It's not the fault of the people who DIDN't buy a house because they saw that they might have a problem

and NOT the fault of those who lived within their means to help the ones who weren't as cautious.

You said " What they are doing is addressing the core "

You're wrong there again my friend, The Federal Reserve is the root cause of this, not Wall Street, Not local banks, Not Mortgage companies but THE FEDERAL RESERVE...

Point blank and period.

[stinkypoon]

Cenk must not know people that bought more than could afford. They knew what they were doing, many of whom thought they'd be rich. They were gambling with the bank's money. There is absolutely no justifiable reason that responsible American should subsidize their lavish lifestyle. Some trust fund baby that bought a $1m condo with zero down making $100k a year whose parents could afford to bail him out will get a bailout from the taxpayers, people making less than him. Disgusting.

[Paetaor]

C'mon. It's the government. What could go wrong?

Socialized banks to go with the socialized houses.

[rflosi]

Yeah, instead of taking your money and giving it to the bankers, we'll just print more, thus debase your money and then give some select few some of the new money, whilst everyone else suffers from the newly debased currency. This is not revolutionary. This is just more Keynesianism. Hope you own a wheel barrel.

[roscoe85cj]

Dow Jones was at 11,716 just last August when Barack O'BlahBlah received the nomination from the Democrap Party ... and now its ready to slip below 7,000 ... WOW ! ... how many ways can the business / investor community say "HELL NO HUSSEIN" ! ! !

[Dabipster]

6 months and he's been in office for only 1 and you blame him?

Yet the repukes gave dubya a free pass for 9/11 8 months AFTER he took office.

Why hello there, hypocrisy.

The housing bubble was responsible for 50-70% of the GDP for the last couple years (meaning we were in a recession for a LOT longer then they admit).

Now lending institutions aren't loaning money, people can't buy as a result, etc. This was in the works for YEARS.

The blame lies with the republicans, deal with it!

[rainmaker856]

the blame lies with the federal reserve.

[roscoe85cj]

Dipshitter, you wanna sandwich to go with your kool-aid ? .. it was Clinton's cowardice and remnants sof his intelligence services that caused the WTC bombings in 1993 AND 9/11 .. as for the housing bubble, that goes back to the Community Reinvestment Act that Peanut Boy Carter gave us and Clintoon advanced and Bush had to keep because of the Democrat majority in both houses of congress .. now you have some FACTS to go with your shit sandwich !

[Dabipster]

The original WTC Bombing? 2-26-93

One month after Clinton took office yet you blame him. 9/11 was 8 months after dubya took office yet you blame? Clinton. Even though bush ignored warnings, and was busy shredding the ABM treaty for a defense shield.

The CRA you blame for the crisis didn't account for lending institutions using hi-risk loans. Actually READ about it instead of taking the talking points.

Dems didn't have a majority till 2007, most defaulted loans were prior to that. Try again.

[roscoe85cj]

Bush inherited the dumbed-down intelligence service from Clintoon. .. it was Clinton's cowardice that got this mess going in the first place - him and pussy boy Jimmy Carter who let our hostages go in Iran for over 400 DAYS ! ! !

god damn code pink pussy fuck liberals are about as handy as a soup sancwich

CRA DID set guidelines to lending to dirtbags who couldn't afford the loans

Dems took control of both houses in the 2006 elections dumbass !

jeschhh .. what fools, what tools

[Dabipster]

The same intelligence that foiled the LAX millennium bombings? Bush IGNORED the threat of terrorism, IGNORED recommendations by Gore to make the airlines use stricter safety, IGNORED Intelligence reform that Lieberman sponsored in a bill.

Dirtbags? Many people were taken in by Predatory lending. You seem obsessed with blaming the victims, and not the institutions that used these tactics.

Elected in 2006, and took office in 2007. Are you even aware of HOW our government operates?

[roscoe85cj]

LMAO dip, without Bush we'd probably have Osama Bin Laden heading up the FAA if you left it to the braintrust of the Dimocrat Party. As for the predatory lending, we got Barney Frank (D) head of the banking committee to thank for that dingus. Re-post when you've elevated your IQ to more than 1 digit to the left of the decimal point dork.

[WHYCANTIFINDONE]

i love how people who want to sound smart have to purse curses and foul language into every post.

its cute, really.

[atripa645]

Everyone knows republicans are born thieves. Predatory lending is like a church for republicans.

If you can find a dem or two involved that's great but it's 99.9% republicans cheating the poor.

[roscoe85cj]

LMAO ... atripa645 the 'predatory lending' you refer to started with Jimmy 'peanut boy' Carter (D) and his CRA (community reinvestment act) where banks were forced to make loans to deadbeats like yourself ... and Carter's 19% mortgage rates didn't help anyone but the lenders did they ? ... fuckin' moron

[atripa645]

The industry is run by republicans. Sub primes were more profitable. We are not talking about the 70's and everyone knows that carter was a huge advocate for the poor. People who voted for bush like you need to take a seat.

[roscoe85cj]

lmfao ... you are truly clueless ... if Peanut Boy was such an advocate for the "poor" what was with the 19% mortgage rates ??/ BWaaa ha ha ha ha

[atripa645]

I don't know what the mortgage rates in the 70's were but I bet you heard that from rush anyway. The republicans cut the regulations and that's the point. You guys lost so bad in nov. and there is nothing you can do save your party.

[roscoe85cj]

?? "YOU DON'T KNOW" .. "you don't know" ... "YOU don't know !" ... yep, we hear alot of Democraps in charge of overseeing our financial affairs saying that over and over lately --- "I Don't Know" .., try GOOGLE you lazy welfare-sucking libdink ! then get back to me when you K-N-O-W

[Dabipster]

Head of the FAA? That makes absolutely NO SENSE whatsoever.

How on earth is the head of the committee responsible for the actions made by the independent companies themselves? I'd LOVE to see you make that connection.

You don't support your claims, and you resort to personal attacks, is that out of positional or intellectual weakness?

Profanity is the refuge of a weak intellect.

[roscoe85cj]

Yo, dumbass (personal attack) Barney Frank, head of the Senate banking committee, is RESPONSIBLE for oversight of the industry and just before the collapse was claiming that everything looked great for continued 'success' lmfao .. .. but we're all sure he was at the top of the short list of those who knew and were paid to keep their mouths shut until the wholesale theft was completed.

[Dabipster]

WRONG he's head of the HOUSE committee on financial services, of which there are 6 subcommittees, 1 of which is oversight. Once again he's only chaired it since 2007. Before then it was controlled by the repubs. Why aren't they blamed?

You show a blatant hypocrisy in judgment. The way you ultimately blame Frank isn't applied to bush. Somehow, in your warped logic, the party that was completely out of power from 2001-2007 is responsible for everything.

You doth protest too much, methinks.

[roscoe85cj]

Jeschh ... You're correct ... Barney the stool pusher held the position since 2007 which is BEFORE the collapse ... so your point is ?? ?? ?? Dow Jones = 11,716 in August when O'BlahBlah was nominated by the Dims (same party held the power in both houses of congress).. .. we're now headed under 7,000 .. so your point is ?? ?? ?? ... yep, lack of confidence by American people, investors, employers duhhhhhhh

[NuRm69]

Yeah, so much lack of confidence from the American people, that he got voted in President in a landslide....Think before you type.

[roscoe85cj]

LOL .. sorry to burst yo bubble fucktard, but 42% of the taxpaying citizens voted AGAINST the spear caddy - hardly a landslide (take a look sometime at the red/blue national county map haha) ... that leaves some clueless liberals and then the social spoonges that did vote for the dink.

[NuRm69]

42% to 58% is a landslide in my book. Sure, it's not Reagan/Mondale, but it's not close in any book.

Plus looking at a map doesn't show how many people are living in those counties, so that argument is irrelevant.

[Dabipster]

Obviously you retain no actual knowledge, you ignored oversight prior to 2007. As well as my previous point that 50-70% of the GDP was from the housing bubble, meaning the collapse was WELL under way by 2007.

Which destroys your attempts to blame Frank.

You don't retain knowledge, nor address issues in a reasonable manner.

You're like a monkey in a cage. It was fun poking you with a stick till you were flinging feces and banging your head on the bars.

Now, you're pathetic, and I Pity You.

[roscoe85cj]

LMFAO .. nothing 'reasonable' about a 4 TRILLION debt assdrip .. but since your income matches your IQ, you're well below the baseline of those of us who will be responsible for servicing that debt... .. see ya in the streets for the coming revolution .. won't be hard to find ya, you'll be the one hiding behind Rosie O'Donut.

[NuRm69]

I smell a troll.

[roscoe85cj]

check your pants, its probably just a turtlehead .. ..

and, the skidmark in your shorts goes very well with the yellow streak that continues up your spine ... a real fashion statement for left-wing loons

[NuRm69]

Is that you Sarah Palin?

[WHYCANTIFINDONE]

speaking of tools, look in the mirror. let me guess you believe you have say in who becomes president?

[WHYCANTIFINDONE]

well, ex-governor bush let 9/11 happen. (i call him governor because its the only election he won legally)

and besides, clinton didnt start a war that didnt make any fucking sense.

[roscoe85cj]

Kum-bye-yawn motherfucker

Kum-bye-Whhhaaaaaaaaaa

[MrMP81]

He did things behind the scenes, sorry.

I don't like Bush either but the difference between these " Neo-Con " people like Bush & Dems like Obama & Clinton is:

One says " We will do this " and the other says " We are going to help the American People " * Drops bomb over baghdad while you sleep *

[TheDalinkwent]

Its pretty ironic how the same people who bragged so much about Bush's bullshit idea to liberate the people in Iraq, which means spending 40,000 a second and putting our country in debt because it was the right thing to do, are now the same one bitching about helping fellow Americans who need help.

[neilanderson69]

dont blame me, I voted for Mcain.  you libs wanted change? well your getting it now arent you.

[degraves2003]

Thank God Obama won because McCain took advice from Phil Gramm the author of the act that repealed Glass-Steagall.... But the fault is Bush his economic team should of caught the bubble growing but they're always in denial believing that tax cuts solve everything. This world isn't black and white, Tax cuts are good for somethings, Spending is good for others, Regulations are good if well drafted and enforced (the White House's Job).

[neilanderson69]

the house and the senate are to blame for this not Bush, guess how had the majority??? democrats. tax cuts will not solve everything, but it si a much better plan than rasing taxes and giveing out wellfare checks. there has never been a time in history were throughing money at an economic problem has fixed anything. less government creats more options for jobs. "expanding of government will constrick liberty"

[degraves2003]

The last time I check it is the president job to regulate and execute the law. If law is not working to its intent it is the presidents job to go to Congress and fix it. And just cutting taxes is unsustanable becuase you keep borrowing money from foreign investor giving away economic power. And you forgot FDR New Deal which brought the nation out of a Depression from the Hoover administration. Don't make baseless claims trumpeted by republicans because they are just playing politics.

[roscoe85cj]

Barack O'BlahBlah left out the REPARATIONS payments for the kids in the hood.. or ?? could they be hidden in the pages of the Bill none of our Senators took the time to read ! !

regardless, I'm screwed cause I don't have a crack habit and am still current on my mortgage !

[nijadi]

Every time Obama opens his mouth I see my investments take a Sh*t, So shut Mr President and let the American economy work its way out, And keep Tax Cheat Tim (TCT) out of the loop, he didn't help us out much the last time he went in to specifics, Oh wait, he had none.

[prideventures]

The Mortgage Owners Associations is even backing this plan, and described it as great.....

[nijadi]

thats because if this were to not go through, the mortgage Jacks would end up in a river.

[mcaldwell86]

The Wall St and banking people are a bunch of con artists. It is not the fault of families who have worked their whole lives to buy their home and they shouldn't have to suffer. In addition, people's homes foreclosing drives down home prices for everybody, including the people who are current on their mortgage, so it's in everyone's interest to prevent foreclosures.

[UnderseaCaveman]

Save the little guy by taking from the little guy.... really? That's the moral answer?

[burb72]

people that got in too deep in payments for something they shouldnt have bought, if they cant cover it, gov should help them move into a house at their income level, not make up difference in payments/renegotiate loan.

[seze70]

what are you..a mortgage broker??

[4eyedCyclopes]

Barack Obama aint gonna do jack fuck for the average homeowner unless it somehow benefits his corporate and banking fuckbuddies...wake up yall..the honeymoons over...now its time to face reality..he's just another politician.

[seze70]

my friend..he's already doing more than bush ever has dreamed of doing for the working class!

[tico8007]

Obama is a big disapointment I want my vote back, no one got in more over their head than the banks he is bailing out, institutions filled with people with MBAs from the finest universities were managed so imcompetently that they are now bankrupt, billions on tax money are spent bailing them out

[atticus05]

I love how we can spend uncapped amounts on war, but education and health care are out of the question.

[Mascofootball75]

=/ man its a shame that he made it as president. VOTE FOR ROMNEY 2013

[clausbohm]

This is just the beginning of the sea change. 52M people owning their own homes in the richest most powerful nation on earth is not that big of a deal. Support ALL of them DAMN IT! And 750M bucks is chicken feed after what we shoved up the bankers butts! Come on ... we can do better ... no we can do MUCH BETTER then that!!!!!!! You bitch at the people that bought into upside down home loans ... damn there way more people that have millions that did alot worse ...remember HP .....

[Frackin64]

I agree with Cenk, although I don't think anyone making $10 an hour should buy a house.

[osp80]

it depends on the house and what part of the country it is

[Richardgwm]

The Republican solution to this economic catastrophe is much better.

Nobody knows what the Republican solution is, but I am certain it is better.

[facelesshorseman]

I was in the service industry when the housing bubble was going on. I was surrounded by couples not making much more than me individually, but they were having babies, driving two cars (one usually a truck or SUV) and buying houses. This is in the Republican enclave of Roseville Ca. A happier bunch of Republicans you'd never see.

Now they are going to be saved. Am I going to get a house note based upon 1/3 of my pay?

Do I have to pay the propped-up bubble price so their homes aren't devalued?

[l0gically]

This is exactly the point I've been trying to make.

[jstutz2003]

Looks like the country woke up and left you sleeping in ignorant land.

[jahfun]

if it wasn't for black people and Africa you wouldn't exist lok at some history and science books

[fsem10]

how does that make sense?????? Africa and African are too diff things

[mcalien24]

no we realize it...

but we're too busy figuring out where to send you.

[godzillaislarge]

smurfBuggery  you fucktard, get the fuck out of here you racist peice of shit.

[mrethrift]

Bringing back the "stated" loan?

[RatRaceAce]

I think that Obama just can't win with this thing. Whatever he does, there will always be a very large number of people hating him one way or the other -- because they didn't get anything, or they got less than someone else did, or whatever. Can you imagine ONE American saying, hey, I don't deserve or need any relief, so I'm not going to ask or fight for it? The ONLY ones who don't apply will be those who REALLY believe they stand NO chance. Anyone else with the SLIGHTEST hope WILL apply.

[cyrussukhia]

I can easily imagine people not seeking relief when they don't need it why is it so hard?

[l0gically]

It's not a "need" thing - it's a "I got myself into this mess, and now I'm expecting someone else to get me out of it" thing.

[cyrussukhia]

I would see it more as "My mortgage company lied to me and now I'm screwed, what can I do?"

I would agree that those that got us into this mess (read: Wall st) don't deserve any help. But only the individuals that made such risky investments.

[DieDulciFruere]

But wait! Are these not mortgages of the banks that got bailed out?? Does this mean that Obama will give more money to these banks even though they helped to crash the economy?

[RatRaceAce]

Actually Paulson already did that. Just weeks before Bush's term came to an end, Paulson distributed about 300 billion to banks etc. out of their total planned 700 billion bailout. It was a joke: Bank of America got 15Bn; Merrill Lynch got 10Bn even as it was up for sale, and Bank of America bought it; another half dozen banks got bailout money, and used it to buy other banks. P&C as well as National Bank wanted bailout money. P&C got 7.5 Bn, and used it to buy National Bank (which got nothing)!

[4eyedCyclopes]

...and isnt it funny that when you go to a Bank of America branch, theyve got brochures explaining to the illigal aliens how they can send all their money to Mexico cheaper..Is that really what this economy needs..Bank of "America"????yeah right.

[flyingtorpedo]

The stimulus package IS going to fail. Not because I want it to, because I want the best for my country. But obviously you don't create jobs with pork barrells. Hello Inflation!

[burntonion05]

I am a little worried about this. How are they going to determine who gets help and how much effort will it take? I think they should have just used the money to create jobs and let the housing market play itself out.

[uberfreak9]

In these brutal times, people who lose there jobs should be allowed to defer payments on their mortgage until 6 months after their unemployment benefits run out. That way they will have plenty of time to get there shit together, and worst case scenario they have to sell there home with plenty of time to do so. Also, hikes in interest rates is fucking ridiculous with banks are given free money to loan out.

[tikinkss]

The stimulus bill IS a ridiculous act to prolong the inevitable. News tonight in California said the billions from the stimulus plan earmarked to help homeowners is actually only going to Freddie Mac and Fannie Mae. There are thousands of mortgage companies, only TWO are being given the billions. Unfortunately most home loans in my area are not from these two.

[cyrussukhia]

What's the inevitable?

[flyingtorpedo]

Obama could have done alot before he got there, especially by regulating Fannie Mae and Freddie Mac while they cooked thier books. He could of opposed the CRA act, which got us into this mess to begin with. I wish he would fight these things.

[Lamarmusizz]

The Cra act is not cause of this mess

[flyingtorpedo]

Absolutely it did, it created the sub-prime market. The subprime loans defaulted and subsequently caused a recession. If you have no sub-prime loans then they cant default. If you have no CRA act you have no sub-prime loans. It makes perfect sense.

[47f0]

flyingtampon, I've figured out your problem - it's facts, isn't it? Those nasty facts get in the way of your warped reality.

According to a banking survey conducted by the Federal Reserve, CRA loans were only 10% of the market. And, "For most measures of performance, a majority of respondents on a per institution basis

report that the performance of CRA-related and overall or other home improvement lending is about the same."

Sucks to be you, swamped by nasty facts you'll never understand.

[flyingtorpedo]

Yeah dude, I'd love to talk lending with you. It's what I actually do as a career. OK so you got the sub-prime defaults, which Chris Dodd (D) has attributed to the recession as many countless Democrats. Ok Beyond that, let's just call it a small problem. Whatever. Then you have Fannie Mae and Freddie Mac cooking thier books...ok Barney Frank consistently fought regulation, what ever. Now the cookie crumbles and you don't have a problem with the decisions these people made? Really?

[flyingtorpedo]

Really jacknob? Chris Dodd and your boy Barney Frank admitted the subprime mortgage crisis caused the recession? I know you even know someone that has a sub-prime loan, that's because I did them and they went rampid. But I have to tell you something Einstien, If their was no CRA act there would have never been a sub-prime market playa? You going to disagree homie?

[Lamarmusizz]

That is simply not true because the Cra was effective long before the subprime market existed. And there is no empirical evidence that have been presented to support the claim that the law pushed banking institutions to undertake high-risk mortgage lending. The law does not even require institutions to make high-risk loans that jeopardize their safety and the worst and most widespread abuses occurred in the institutions with the least federal oversight...

[p12psicop]

What does "could of opposed" mean. I don't understand that part. Do you mean mean he could oppose it or should oppose it?

[cyrussukhia]

This is true not just for Obama but the entire house and senate. Now that we're here, though: what can we do?

A (tangential) question: was it just Fannie and Freddie cooking their books or did the deregulation allow others to do it as well?

[Prophetess7]

Do a YouTube search for CNBC ORIGINAL DOCUMENTARY "HOUSE OF CARDS" Part 1-8

Its a good documentary! It explains everything

[dralavant]

I'm not an expert in Real Estate, but I hope this plan works in helping millions of homeowners.

[daderone]

that makes two of us, i think it will help and was happy to see him do this

[stinkypoon]

I don't. I've met too many greedy homeowners over the years, gloating about how rich their overpriced house will make them. Home ownership is not a right. Hardworking americans should not pay for the greediest and most irresponsible people's houses.

[dralavant]

Well I do, because I have people in my family struggling with their home mortgages and they're doing the best they can. They're not irresponsible. They're peace-loving people who give to the community.

[stinkypoon]

I'm sorry to hear that. They'll be better off renting though. Nobody else should have to pay for their mortgage. They aren't entitled to the house. If they cannot pay for it, they shouldn't have it.

[apwman]

Good for them. Maybe if they didnt give so much they would be fine. This is bogus and will equal more entitlment for people. It is now life liberty and the entitlement of happiness.

[l0gically]

Either way, someone still gets screwed. All of the homeowners who *aren't* underwater deserve the same benefit. It isn't their fault that they made wise buying decisions, or that they could actually afford the homes they bought.

[DameDiabolique]

How do they deserve the same benefit? They don't need the money and the refinancing. They are not in trouble. My mom always said, "If it ain't broke, don't fix it." If those people who aren't underwater don't have the threat of losing their home, then why would I want to help them out with my money?

[l0gically]

And why is it again, that people should be *rewarded* for making ill-informed choices? And why should someone who should have never had a loan to begin with wind up in *better* circumstances that people who spent their money wisely?

[DameDiabolique]

No one is being rewarded for making ill informed decisions. It is all your twisted perception of the trouble that these people are facing. Some of these people are victims of the system and need some help. Why won't people like you show some compassion and be more Open minded. Not everything is so black and white you fucking jerk!

[l0gically]

In what way are they "victims of the system"?

I'm not a jerk, I just don't believe in handing out money to people that don't deserve it.

[DameDiabolique]

Watch the most recent videos from Brave New films about some of these people who are victims of the Sub prime lending and these Real Estate agents who tricked these people into the wrong mortgages and so on. Or these people who lost their jobs and are barely able to pay their mortgage. These people are in trouble and someone should help them.

[cyrussukhia]

It's a pretty common fallacy that just because someone has gotten caught up in a bad mortgage that they are somehow fiscally irresponsible.

What it really comes down to is do you want to see your neighbor suffer?

[Jensagirl]

If the banks and mortgage handlers are not willing to budge on there profits then who are they really looking out for? What good is a foreclosed home going to do them anyway when values are down and its a buyers market.

[daderone]

good points

[makaisenki]

wait wait wait...

7-9 million home owners?

74 Billiion dollars?

6-10 billion per person? (roughly) I think the numbers are wrong. Please do the math again.

[GamerJerks]

lol shit i wish lmao

[tikinkss]

wow...somebody actually has common sense and math skills.  I wonder the same thing.

[billionaireby16]

Give em' Hell Obama

I hope you got the guts to pull through KID

[blossom420]

why was tty's suspended for a day? again??

[rl0u8888]

I was wondering that too

[Namari12]

Another benefit: all the people who are going to need to be hired to handle all the claims = job creation

[PerfectionObsessive]

I'd say sink the people who's in trouble, we need the market to return to equilibrium, whether it staggers or hits the bottom and then rises to a good point again we can't pile money on it and hope it will fix itself.

[lovejangie1]

President Obama's housing plans is a good start.

[Ryan2142]

Obama is a good guy. Education is still a huge thing I wished coulda been focused on more..

[Himechansexytightass]

100 billion isn't enough?

[nunurox]

no not even 2 trillion is enough

[Ryan2142]

first off, it isn't the much going towards education. Look at the website obama created showing where all the money is going. PLUS, it is estimated that we need over $200 billion, just to bring buildings up to code!!!!!!!! This is ridiculous!!!!! The property tax structure is killing our school systems.

[Richardgwm]

There is no such thing as spending too much on education.

[mbizzle55]

Thank you man!

[baddmanaz]

obama da man

[4eyedCyclopes]

why is obama da man...what the fuck has he ever done??? what did he ever do as a senator to make anybody believe he could do anything as president???oh, thats right..i forgot..hes black.

[seze70]

you sound bitter about something!!

[vRaZ1el]

lol looks like someones jealous.