So now that people have no jobs, McConnell wants to "fix the housing industry."

[lonestarnot]

:rofl: If mortgages were two popcorn farta and a twenty cents, unemployed couldn't pay them. Idiot pugs!

[Joanne98]

1. I know. I don't understand that. I wonder what he's really doing.

Isn't pinning mortgage interest rates to 4% price fixing? Doesn't that violate conservative "principles"? I notice he said only to people with "good credit".. Maybe they want to grab up all the foreclosed houses for cheap before they rot.

[lonestarnot]

2. Just mugging more than anything else probably, but you'd think they'd try to look less stupid.

:D

[Horse with no Name]

3. The caveat is "good credit"

The people that NEED that low interest rate are the people they screwed over during the last housing bubble.
Now...the jackals are out to try to swindle the folks with good credit remaining. I'd surely hire a few lawyers to look at ANY paperwork I signed that was "legislated" by a republican. You are bound to be screwed (unless you are one of their croneys)...for some reason I am reminded of the THOUSANDS of mobile homes that were built after Katrina and hauled to mass lots to sit and rot until the republicans could figure out how to sell these homes to croneys who could then turn around and rent them to the people that they were intended for.:mad:
We won't even go into the poor quality and shoddy workmanship that went into building these mobile homes. Certainly not the same quality if you went to the lot and picked out one of their other homes.
However, these contracts to build went to more croneys and the government paid them twice as much mobile homes worth half as much.

[Vinca]

4. Tax cuts, tax cuts, tax cuts, tax cuts. The standard solution.

Only one problem. If you don't have a job there are no taxes to cut.