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denem

(11,045 posts) Wed Jan 25, 2012, 02:40 PM Jan 2012

Romney tells worried voters they are going to lose their houses (Not joking)

Romney was standing outside a Fannie Mae-foreclosed home in a struggling neighborhood telling a small crowd why they’re having so much trouble. “In this case, it’s because of the banks,” he explained. “Well, the banks aren’t bad people. ...

“The banks are scared to death, of course,” he said. “They’re feeling the same thing that you’re feeling. And so they just want to pretend that all this is just going to get paid some day.”

http://www.washingtonpost.com/politics/in-center-of-nations-mortgage-meltdown-romney-defends-banks-while-talking-about-housing/2012/01/24/gIQAHMlVOQ_story.html

Dont "pretend that all this is just going to get paid some day". "The banks are scared to death"- They lose money, you lose your house.

"The Banks aren’t are bad people" - They feel your pain.

Amazing stuff.

7 replies

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Romney tells worried voters they are going to lose their houses (Not joking) (Original Post) denem Jan 2012 OP

Post removed Post removed Jan 2012 #1

nevermind the lack of compassion, he's not even technically correct. unblock Jan 2012 #2

Unreal! Even for Romney! nt gateley Jan 2012 #3

Banks are not people and do not have feelings, my friend. demmiblue Jan 2012 #4

I'd like to see an Occupier confront him on this fearmongering. Skidmore Jan 2012 #5

This man cannot help himself... Raven Jan 2012 #6

Romney should just say: gopiscrap Jan 2012 #7

Response to denem (Original post)

Post removed

unblock

(52,249 posts)

2. nevermind the lack of compassion, he's not even technically correct.

Reply to denem (Original post)

Wed Jan 25, 2012, 02:48 PM

Jan 2012

the "banks want to pretend that all this is just going to get paid some day" isn't what's causing people to get foreclosed on.

if the banks were to finally recognize 100% of their bad debts on their financial statements, it would have ZERO positive impact on the entire foreclosure process.

all writing off a bad debt means is that the mortgage moves from "collections" to "recoveries". if there's any impact at all, it would be to SPEED UP the foreclosure process, i.e., all the foreclosures would happen ASAP instead of dragging out for years. not what romney meant, i'm sure.