WTF? What does this BS statement from McCain mean?

[Hepburn]

I am listening to MSNBC and cuz I could not get to the TV immediately to mute it, I heard some of McCain when I came back into my computer room from the kitchen.

McCain said (paraphrase): "I have a plan to see that the value of your home does not go down if your neighbor's house forecloses!"

Please....if he had this plan, why the HELL did he NOT share it long before now to prevent the snowball effect on housing prices from massive foreclosures?

So...anyone know what the hell the specifics could be on this plan? Or...could the asshole just be blowing more BS?

:shrug:

[Higher Standard]

1. It's like his plan to capture Bin Laden

He'll let you in on it, but only if you elect him president. If not, well, you're SOL.

[Hepburn]

3. OK....NOW I get it....

...RW extortion! :hi:

[kwolf68]

2. LMAO

How in the hell does he propse to do that?

[Hepburn]

4. Exactly....

...and on top of that...he says that Obama is looking to redistribute the wealth? Well, giving someone more equity in a home...what the hell is that but redistributing the wealth????

LOL....:hi:

[kwolf68]

11. Yea...

I see absolutely ZERO, NO potential way he could maintain values of ANYTHING on the open market unless he did use government intervention.

If the market says your house will go down in value, then it will. If your neighbors foreclose and let their property go to crap, then your house will most likely lose value. HOW THE HELL does McCain propose to deal with this? Shit, even if he were to have govt buy your neighbors house it still DOES NOT gurantee your house will maintain value.

The guy is simply talking out of his rectum...this may be the most insane thing he's said concerning economics in a long while. Utterly laughable. He's banking on Americans being stupid and asleep...he picked the wrong year to run.

[ITsec]

5. Government backed real estate price fixing?

What kind of convoluted *ism is that?

[Hepburn]

9. Sounds like McAsshole has a plan to redistribute the wealth!

Ummmmm...unless I am totally wrong, giving someone more equity in a home than the market sets, that sure as hell seems to be a scheme to redistribute!

[renie408]

6. He knows how to do that....n/t

[RockaFowler]

7. He's also against the Bailout - that he voted for

So he was for it before he was against it

[DrToast]

8. He has said what his plan is...

His plan is to "spread the wealth" by using taxpayer money to pay off a chunk of the mortgages on those homes.

[Hepburn]

13. Sounds like socialism...or some ism....to me!

:hi:

[JBoy]

24. Sound like dumb-fucking-ideaism.

[high density]

10. I assume it is part of his ill-conceived mortgage purchase plan

Where he helps out the banks by buying up a bunch of worthless mortgages.

[melody]

12. Watch me pull this rabbit out of a hat

McCain has fallen back on prestidigitation.

[pdxmom]

14. I think this is the one about the government buying up the houses in

foreclosure, so the banks get their money, and then the government resets the mortgage of the house. Basically, you will pay the banks, in your taxes, to make a profit. I think that is essentially what the plan is. He's never quite specific about it.

[Hepburn]

17. Sooooooooooo....that kind of redistribution of wealth is OK?

LOL...:rofl: Whadda schmuck!

[Waiting For Everyman]

23. So is taxing the middle and the poor for the benefit of the rich.

[SurfingAtWork]

15. Sounds like he is going to provide a federal guarantee of property value

From a certain date. When he said that, did he precede it with "My Comrades"? Because that idea sounds awfully socialist to me.

:rofl:

[CBGLuthier]

16. Old Republican Trick

Nixon had a secret plan to get us out of Vietnam too. That was in the '68 election. Too bad it took him 6 years to let everyone else in on it.

[coalition_unwilling]

30. Nixon's "Secret Plan" was to wih the war by expanding the war into Cambodia and Laos - n/t

[rucky]

18. There's a trick you can do

with a seller contribution that jacks up the price of a home, then the seller gets that money back at closing.

maybe that's what he's talking about? but anything I can think of would have to be an agreement between buyer & seller, with an appraisal that's reflective of the value. If he's talking about manipulating appraisals, then that's pretty unethical.

[av8rdave]

19. Using government to dictate the fair market value of private property?

THAT, my friends, is socialism.

[Hepburn]

27. Exactly....

...government makes the rules on what private property is worth.

Ummmmmmmm.....that does sound like the essence of socialism to me!

[Sedona]

20. he said Obama wants to tax our 401 K contributions?

which part of his ass did he pull that out of?

[Ozma]

38. That's the deepest part of his ass! Where the real shit lies! n/t

[WhollyHeretic]

21. He said fixing social security was easy. He knows how to do everything

but he's not telling us how unless we elect him.

[Vinca]

22. The McCain "plan" is worse than demon socialism.

This is my take on it assuming my neighbor's house and my house are worth the same amount of money and we both have the same amount owing on our mortgages. If the neighbor defaults on his mortgage, McCain will cut it in half so he can stay in his home. Nice plan. As the neighbor stuck with the full tilt mortgage, I will immediately stop paying mine so I can take advantage of the McCain "cut my mortgage in half" plan. I can't figure out why Republicans aren't ballistic over this scheme. Something, of course, must be done, but it's more feasible to give the neighbor a 60 year mortgage to cut his payments in half than to bestow a lottery win on him.

[Hepburn]

29. Yep, a 60 year mortgage given to someone who is...

...35 years old and has a 10 years old home with a life expectancy of 50 years.

Great plan....:rofl:

That sure as hell is gonna set the housing market raaaaaight back on its feet!

LOL...:hi:

[Vinca]

42. The only reason for a 60 year mortgage would be to avoid foreclosure

by making the payment affordable. After the person gets back on their feet they can either renegotiate to a 30 year or less mortgage or - if the market has improved - sell the property. It's a bandaid to keep people in their homes while not screwing the guy next door.

[Deep13]

25. McC plan: Make shit up. nt

[On the Road]

26. I'm Lovin' These "I Have a Plan!" Pronouncements

His inability to offer any specifics just highlights how little grasp of the situation he has.

[Hepburn]

28. He is talking TOTAL generalities this AM....what bullshit....but...

...then he talks bullshit everytime he opens his yap. Not a surprise!

[On the Road]

31. I Know This is Bizarre,

but this theme of the McCain reminds of a CS Lewis novel where the hero is locked in a basement with a strange old man. When asked how they're going to escape, the old man raises one eye and says "I have a plan!" After repeated questioning, he finally says: "I have a plan. I think we should make ourselves some toasted cheese."

[Hepburn]

33. Latte spew....

....:rofl:

Yeah....come to think of it...McCain IS toast!



Hey, you got any of those cool cheese sprinkles? :hi:

[faithfulcitizen]

32. Tomorrow he announces the keys to our new cars are under our seats.

[Hepburn]

34. Oooooooooooh....make mine....

...a Porsche CayenneS! Turbo!! Swooooooon!!!

[faithfulcitizen]

35. It shall be done!

:)

[Hepburn]

36. Kewl........wow....and thanks you, but....

.....do I also get a bailout to cover the insurance, gas, reg fees, and maintenance?

Just asking....:evilgrin:

[pipi_k]

37. He didn't share it because

the little men with green skin, pointy ears, and three eyes hadn't told him about it yet.

[Occam Bandage]

39. It's just like his short-lived buyback plan: throwing shit at the wall.

[pipi_k]

40. I wonder if he'll expand on that promise

and include park benches in the deal


:sarcasm:

[Hepburn]

41. Only if it benefits the wealthy and the corporations!