Daily Kos

HRC on NPR

Fri Jan 18, 2008 at 05:02:57 PM PDT

I thought I heard Clinton's (Hilary) voice on NPR,
this afternoon, but was amazed by what she said.

She talked about the "sub-prime" crisis.
I gathered that she wanted a bail-out.
Interest rate freezes.
After what I heard, I'm resentful.
Why didn't I get an interest only, option-arm,
whatever the best low-ball loan was and buy
a 2 Million dollar house, so that I could
enjoy the bailout?

People make mistakes all the time.
Every day some people sign-up for a car loan
at horrendous interest rates (> 20%).
Why don't they get a bailout, too?
Freeze interest rates? For five years?
Do we have a market economy or don't we?
Shouldn't people pay for their mistakes?
Wouldn't it be better to recognize that
people should be better educated? That
people should be educated to see through
the marketing hype? That accumulating gadgets,
and yes, houses and even bigger houses, won't
make a person happy.

I remember in '72 when McGovern advocated giving
$1000 to everyone. He was pilloried for that, and
not just by Republicans.

I realize that some people may have made an honest
mistake by taking on more mortgage debt than they
could handle. But many of them were driven by greed,
knowing (assuming) that house prices "never fall,"
and "always go up."

How can I afford to bailout these people?
How can I afford to support Clinton?
She always says something to the effect that,
"you work hard and play by the rules," you
should be rewarded. But I think that many of the
people caught in a bad mortgage operated with
a willful suspension of the rules (their own suspension
of the rules, however facilitated by bad actors: 20% down;
documented income; no more than a certain percentage for housing costs;
no more than a certain percentage of income for debt expense).
They knew what the rules were, but hoped that by taking advantage
of a suspension of those rules they would profit. They were greedy.
They should pay for their mistake.

I regret offending anyone; however, reality bites.
Meaningful "change" won't happen by doing more of the
thing (easy money) that created the problem in the first place.

Poll

Should we bailout troubled mortgage holders?

10%5 votes
27%13 votes
18%9 votes
0%0 votes
2%1 votes
6%3 votes
6%3 votes
8%4 votes
2%1 votes
18%9 votes

| 48 votes | Vote | Results

Tags: Clinton (all tags) :: Previous Tag Versions

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