Mr. Romney on Foreclosures
Since the housing bubble began to burst six years ago, prices nationwide have fallen by a third. Nearly $7 trillion of home equity has been wiped out. Currently, some 14.7 million homeowners owe $700 billion more on their mortgages than their homes are worth. Going forward, prices are likely to fall further as banks put a backlog of foreclosed properties on the market. As home prices fall and more homeowners sink underwater, there will be more foreclosures and more price declines.
So what is Mitt Romney’s response? Bring it on.
In interviews and in the Republican presidential debates, Mr. Romney has said that the cure for foreclosures is for the government to get out of the way and let the process run its course. Once prices hit bottom, investors and want-to-be homeowners would presumably swoop in and prices would stabilize.
The argument might have some red-meat appeal, playing off the notion that any owners who lose their homes are getting what they deserve. It is wrong on several counts:
Check out why it’s wrong here…
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We hate him here in Massachusetts. We like Ron Paul……watch Paul slam Mittens.
http://www.youtube.com/watch?feature=player_embedded&v=xYgAbkXOAsw
Heaven forbid Romney the wimpy “tough guy” ever gets in office…..
We need to make sure Mit Romney is not President. A tea party person needs to get in, dont trust any of hte good ol boys from either side, they are like good cop/ bad cop, just trying to keep us fighting for democrates or republicans, and the majority of them are both are no good. I would rather have someone honest in that is not skilled and generally dishonest, than a skilled generally dishonest party.
I agree, Shelley. I don’t trust any politicians from either side…C-Span had a special on the other night about George McGovern…he was the only third party candidate to ever gain any votes from the electoral college..We need a third party candidate who is a true American Patriot…no more of these CFR members and the like..They are all working for the NWO..Gotta get the money out of politics and limit the terms of CONgress members and much more, or we are doomed…
If the federal government is guilty of stealing my life savings , For sure let them make it good. this down turn was not my fault . Why should my famile suffer the loss and Mitt Romney escape free and clear????
Oops – link to the story is not available (can’t click on).
I too get an error for every posting — they eventually post but I get booted out of the site.
Politicians are generally skilled liars. The ‘Government’, as this wealthy liar suggests, should ‘get out of the way’. The Government/Fed/Treasury Department, at the service of TBTFs, are very involved in foreclosures and has tried to expedite the processes, through intentional failures like HAMP.
The law firms sent on behalf of the Treasury Department/Fannie Mae with our tax dollars have committed fraud nationwide. This is the “Government”, as Shit Romney is fully aware. About the only nutball politician who has this right is Bachmann, otherwise she too is a skilled liar. Don’t be fooled by any of these crooks and the stream of blather and idiocy that exits their blowholes before the next sham election. That includes those from the current pro Bank employee who is in the White House at the present time.
I wrote a very short comment on this but it “timed out” again.