"deserving" homeowners... "qualified" borrowers

[SoCalDem]

Those are the two key words in McCain's approach to the real estate "problem"..

Money will be thrown into yet another "agency" to investigate and decide who is "worthy"..

It's like tackling cancer with a baby aspirin..a $100 baby aspirin..

McCain's "plan" is nothing more than a used , scabby band aid..

What has to happen is a RE-evaluation of just about ALL real estate..and a re-adjustment of every mortgage around..

There needs to be strict regulation put in place to require REAL down payments, real income qualifications, and NO equity loans that remove more than 10% of the equity..and only once every 10 years..

The mortgage holders need to write down most of the mortgages they carry now, and just EAT the losses.. If they fail, they fail..

This problem must be tackled headlong and fully..not a nibble here and a nibble there..or we will be facing the same issue time after time..

Republicans CANNOT solve this problem.. they CREATED it and profited from it...and they have no reason to really ever want to "fix it"...

The companies who scammed so many people, profited mightily , should be forced to give that money back... or go to jail..or maybe both..

[arendt]

1. Reminds me of "worthy" and "unworthy" victims (Ed Herman, I think) n/t

[longship]

2. Of course, we know who the qualified, deserving folks are.

Just by accident, they *all* happen to be...

Republicans!!!!

Surprise! Surprise! Surprise!