Hell...just have Dr.Phil and McLame's rich wife bail them out.

This is a serious situation and the approach taken requires serious and sound judgment...which only Senator Obama can give.

Obama don't know how to address the matter. He hasn't a clue, he has to wait and see what other people think. He is to busy getting into Nascar sponsoring. He wants the "Good old boys" support. He will say and do anything for votes.

I've got a great idea....let them go under and pass a bill that whoever owns mortgages under them (I hope I do if this is were to happen) that allows the owner of that mortgage to just own the house and not have to pay anything back.  That would put lots of disposible income into economy, everyone could buy a BMW and Plasma TV!!!!

I hope the government doesn't bail them out, if they want to lend a helping hand to support the economy and the citizens of this country then thats fine, but a straight bail out on a one way "loan" doesn't help much.

This is just another typical Obama "present" comment on another crisis - always trying to have it both ways.

The Obama camp released a statement earlier (see below post), but the statement does not address whether the government should intervene to help Fannie Mae and Freddie Mac should it become necessary and whether the Treasury should make an explicit statement that it would back these loans, in order to avert the kind of crisis of confidence that sank Bear Stearns.

Athena your my girl, but c'mon this is pure speculation. McCain can pretend to take action on everything, but none of his proposals are actually solutions. Last thing we need is another reactionary president. Also, as we saw with his proposed German visit, the White house is triangulating whenever they can. Obama is wise to hold off until Bush makes a statement.

We have bailed out a greedy, irresponsible 'hedge fund'

We bailed out greedy, irresponsible Bearn Stearns

Something similar should be done for Freddie Mac and Fannie Mae
BUT... with MORE OVERSIGHT of the markets and the financial industry

What does Foreclosure Phil' Gramm think ?
Isn't HE McCains 'economic guru' ?

Phil Gramm is more like Dr. Kevorkian than Dr. Phil

There's Barack again, hedging his bets. He doesn't even understand how real people get mortgages. Obama thinks people like Tony Rezco take care of those little details for big important politicians like himself. Maybe Obama should ask Phil Gramm how the economy works because it's obvious he doesn't have a clue.

If John McCain is for a government bailout and Barack Obama isn't, it seems we've found who's more economically conservative. And there goes McCain's chances of courting economic conservatives who've been alienated by President Bush.

We continue to ignore the Dodd Shelby bill FHA Housing Stabilization Act of 2008 which was written word for word by Bank of America.

Countrywide shareholders have approved the buyout by Bank of America.

Thank god Obama hasn't issued any irrational statement for pandering purposes.We need a commander in chief who thinks before he speaks.A great leader analyzes the problem thoroughly to supply an effective solution. If only McCain could figure that out(Old man yells at clouds).

God help me, I actually agree with McCain of this one.  A bailout or recapitalization of these two agencies is essential to at least sustain this failing economy. Without a bailout the results would be catastrophic.

The irony here is that Phil Gramm, the same Phil Gramm who said that problems with the economy were in effect psycholigical, lobbied Congress to de-regulate the mortgage industry.  This de-regulation is the primary cause of the mortgage crisis in this country.  Predatory loans were allowed in this unregulated environment.

McCain is right on a bailout but I'd love to hear his explanation as to why he does not support bailouts for homeowners who were victims of these predatory loans and is againt re-establishing federal guidlines to regulate the mortgage industry.

Interesting problem for the Senator

I listened to Pat Buchanan speak passionately against Bush, and McCain last night on 'Hardball'. His comments with regard to the lost jobs in Ohio, Pa, and Michigan, were motivated by Phil Gramm’s dismissal of their pain as 'mental'.

This leads me to a comment I have wanted to make for a while. (Don't choke on your coffee).

I like Pat. Of course he is a repub, but I have not seen a neocon demeanor about him. In fact, I find his comments fair. I have witnessed him giving Obama lots of kudos on MSNBC. (I cannot speak to his blog, as I have not visited it. I'm not looking for reasons to hate).

Both he, and Joe have made remarks that convince me that they want to be fair, but like most Americans, have opinions with regard to race relations in this nation that need airing, addressed, and hopefully amended.

Some time ago Joe said, "when I heard Obama's 2004 speech, I thought to myself, here is a guy that doesn't hate me".

Another time he said, "if the DNC takes the nomination from Obama, who is ahead in the race, we as a nation will be humiliated around the world". WOW!

The question put forth by Pat, and company, (that troubles Obama supporters) as to, "why is Obama not higher in the polls, all things considered", is a legitimate one. The answer is not one dimensional. Racism is a drag on Barack's candidacy, but there are a plethora of other challenges which face him. Obama knows he has opened the door to some of these bugaboos himself. The only important point is that he solve them. I have faith that he will.

Obama got it right. Let's not retreat to our respective racial corners, but talk, and listen to one another with an open heart. Our future depends on it.

First Read, please report this!

President Bush, during the G8 summit, was intentionally trying to sabotage Obama's attempt at making a speech at the Brandenburg Gate in Berlin, Germany during his Europe/Middle East tour later this month.

http://www.huffingtonpost.com/2008/07/10/report-bush-privately-tol_n_111993.html

First Read, please report this!

I thought Obama was for helping the little people of the country in getting good mortgages? Now here's his first opportunity to back it up, and he balks. Oh, that's right, Obama is against "Big Corporations". I guess you people that need new mortgages can just wait until some ma-and-pa bank opens up shop in your neighborhood. Until then, I hear the New York Times is a good paper to cover yourself with when you sleep on the bench in the park.

...just wanted to take this opportunity to commend the Republicans and their greedy friends on the fine job they have done in being the stewards of the US economy.....

I have confidence that Barack won't bail out these lenders. Many of the executives at these banks will just be getting huge bonuses without helping out Joe and Jane Sixpack with their mortgages. Sure, poorer people will suffer, but it will  be worth it because the fat-cats won't get their way. It will  be good to see these bankers only earn hundreds of thousands of dollars instead of the millions they are used to. No new Porche for you this year Mr. Banker man.

So many excuses for his lack of specificity to anything...not just this but all along through the primary...Obama where is the Beef?

John McCain on the Mortage Crisis, March 25, 2008:

"I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers. Government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and the economy.

In our effort to help deserving homeowners, no assistance should be given to speculators. Any assistance for borrowers should be focused solely on homeowners, not people who bought houses for speculative purposes, to rent or as second homes. Any assistance must be temporary and must not reward people who were irresponsible at the expense of those who weren't. I will consider any and all proposals based on their cost and benefits. In this crisis, as in all I may face in the future, I will not allow dogma to override common sense."

So, McCain's position is that we have to bail out the banks, no matter how irresponsible they were, because the economy depends on it. But in terms of the people that they screwed over? Well, we'll just have to do that on a case by case basis, we don't want anybody to get over on the system.

Why does the little guy in a $150,000 house ALWAYS gets the extra scrutiny, while the BANKS are robbing and pillaging the country of BILLIONS with no reprecussions at all?

Full speech here:
http://www.cnn.com/2008/POLITICS/06/27/mccain.housing.crisis/

Domenico - If Barack Obama didn't give his opinion about this issue - why would you title this segment the way you did.

Anyway, The GOP and their cronies designed the fallout - so the government has to bail them out.

This is just another way the GOP and their cronies are stealing the American's tax dollars.

Thank you and GOD BLESS AMERICA  

Even during the Great Depression banks suspended payments on loans...no one could afford to buy...interest payments only delayed the principle pay off date...
Greed Will Not Succeed....even in a deregulated market...unless their crooks too....weed them out now!

And as for the Reverend Jesse....

For those that do not know Jesse Jackson lingo..."cut his nuts off" = "He's an Elitis" in
Jackson verbage...

So really he was only saying what many people already believe about Senator Obama...

The MSM again blows things way out of proportion...

"Proportion" in Jesse Jackson lingo means:
1) we ain't gettin' the good stuff i.e. part, .2) you lowered me that stuff..3) we never get

the good stuff around here, 4) anymore portion for me?.......

So be softer on the good reverend and we'll all be just fine in the mornin'...

Barack Obama is just soooo dreeeamy. I know he's a liar, but I love the lies he tells.

Barack! Behind you, watch out! Its Jesse, and he's got a knife!

Now let me see how many times McSame can be defended?

What ever is wrong with Barack, its nothing that a good cleveland steamer wouldn't fix.

I like Senator Obama's plan to watch and then act approach.  Remember that ol'adage:
"Think before you speak"?
This is the mark of an effective leader.

Obama 08

Situation feels gloomy.  That's psychological.  Bush is going to be in office 193 more days. Thats gloomy. McCains exfriend, Phil Gramm, significantly contributed to the problem. That's gloomy.  Don't want to move back in that direction.  It's silly for the press to ask Obama, "If you were the POTUS what is your solution?" and expect an answer in 30 seconds or less.  It takes some time (at least a day or two) to think through a sensible answer.  McCain is clueless about what to do.  Yes, the economy is a real and psychological problem with few answers.  Damn, I wish Obama was president NOW.

Question, This whole housing thing confuses me.  So if these two companies were to go under, what would happen to the millions of homeowners who have government backed guarantee mortgages through these two companies?

I'm not so concerned about the big business end of it, just what the actually effect will be on the average american citizen.

i dont think either of these candidates would have something to do with this crisis.  These companies shouldnt be bailed out though.

mccain has missed more votes in the senate then any other senator
http://sensico.wordpress.com/2008/07/11/mccain-hasnt-voted-in-the-senate-since-april-8-2008/
or http://sensico2.blogspot.com/2008/07/my-blogs.html

To Chuck Todd, I saw Morning Joe, I know why Obama can't connect. He needs to learn the only thing that Bush does well, talk in simple sound bites. Repeatedly, surrogates ask him to "keep it real" but he thinks he's elevating the discourse. If he made 1 economics speech, called it "Meat n Potatoes Talk" and killed the multisyllabics, the undecideds would evaporate.

People want to be able to justify their choice in one smart but practical sentence. With Obama he's a whole paragraph that doesn't sell well over coffee. If he gives his blue collar surrogates easy talking points, he'd be in permanent double digits.

Of course he's cautious.  Hard to respond immediately when you don't have a political core about anything.

Guess it's all part of the "mental recession" we are going thru. Fannie and Freddy should stop "whining" and buck up because things are looking BRIGHT! According to the other Dr. Phil of course.

The Obama camp released the following statement: "We don't have a clue on how the economy works. Frankly, we're just amazed we made it this far. There must be some really dumb people out there to ever believe the drivel we've been putting out."

I understand the concept behind "Too big to let fail", but maybe a bigger, better concept is to bite the bullet and cleanse the economy of these type of failed business models. And let it be la esson to the next set of greedy investors who don't care if something is too good to be true as long as they can say,"I got mine."

The reason Obama says one thing then votes the other way, is because he doesn't understand what he is voting for. Like the surveillance vote.

Bail out homeowners, not fat cats!!

I remember when I was first married in the early 1970's, the biggest challenge we thought we would have to face was if a bank thought we were qualified to buy a home.

It was hard back then. The banks were pretty strict.

Then greed took over. Everyone wanted to be a millionaire.

Loans loans loans. Come and get 'em.

Times have changed - just sign on the dotted line - if you got approved, that was all the confirmation you needed to believe you could afford it.

Right?

Wrong.

Isn't this about the time when Phil Gramm should be escorted to the island of Elba to live out the rest of his life?

Stop the bragging republicans - you haven't done a damn thing to deserve the high five's you continue to give yourselves on the talk shows.

Talk is cheap. And costly.

"Senator Obama has long believed we should take all necessary steps to ensure affordable homeownership for millions of American families, and that includes an essential role for Fannie Mae and Freddie Mac.

-Obama Campaign

Athena,

To say that Senator Obama has not publicly addressed the matter is false. If you meant to say that he has not done so today, however, you blew it.

For anyone who is interested in McCain's moral character....  go to LA Times today and read about his divorce from his wife and how he lied in his autobiography.  First Read, why haven't you reported this?

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