Quote:
Originally Posted by Cali Coug
Pray tell, what is your "sensible solution" to the mortgage mess that would not involve a "centralized plan" but would rely on "libertarian philosophy?" And what, precisely, do you see that Obama did that exacerbated the problem?
I'm sure we have something in common other than religion....
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First, we should NOT have bailed out the banks which made the bad loans and we should have eliminated the government mortgage guarantees. This would have created incentives for the financial institutions to sit down with homeowners so that all parties share in the disaster and would have stabilized home prices.
If we were hell bent on spending money, money should have been paid to modify principal, not to force the banks to foreclose.
Both options would have stabilized the home prices and kept homeowners in their homes instead of turning them over to predatory investors. Obama's solution is the absolute worst solution.