Obama: NO BAILOUT-Without Helping Homeowners-Equity Partnership(Going To DC Later Today)

Breaking: Obama Lays Down a Marker on the Bailout
By: Pachacutec Thursday September 25, 2008 7:55 am


OK, we're on the economy now. We have a crisis as serious as any since the great depression. It's outrageous that taxpayers should have to shoulder the burden of greed and irresponsibility on Wall Street and in DC.

We need an independent oversight board on spending the money. We need to be equity partners in return for the bail out. We won't bail out Wall Street without helping homeowners. We shouldn't give anyone a bonus.

He's pleased that Senator McCain has adopted his principles. He's going to DC later to try to help out. Then he's going to Oxford to get ready for the debate. The election is in 40 days, and the public deserves to hear from both Obama and McCain what they plan to do.

http://campaignsilo.firedoglake.com/2008/09/25/if-its-thursday-this-must-not-be-dc/

and then say it didn't do enough for homeowners

it does nothing for people like me trying to buy into a housing market inflated by over 50 % due to these bad loans.

The whole point is to save the top 1 % who have a lot of equity in property value. Sure a few Americans will work the court system and save their house. But the real winner will be the Americans that can pay their multiple mortgages on their investment property and simply are greedy and want to save their fake run up equity.

I wish we could do sometime modest, short term, to be renogiated after a while to see effectiveness. Hope we Dems are not the responsible ones, and have McC do the political populist thing.

The GOP are all about policy as politics for winning elections and not governing.