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ON THIS PAGE: John McCain's mortgage buy-up plan is a step to socialism, dumping fiscal responsibility | LINK UP: If McCain dies in office we must face the nightmare of President Palin |
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Karl Marx McCain John McCain's plan to spend $300 billion of taxpayers' money taking over distressed mortgages is yet more evidence of maverick madness What the heck is a maverick? We thought we knew, figuring it to be a guy who rides solo into town, follows his own rules, shoots from the hip, swigs whisky, rounds up bad guys, sometimes doing weird stuff, but in the end doing the right thing.
short-fused, and, let's face it, rude. He's all the things you don't want a leader to be in a time of economic crisis. McCain claims to be a steady hand on the tiller, but the evidence of the past few weeks suggests he's as likely to run our national ship aground as steer it to safety. His mortgage plan, shot from the lip during the second presidential debate, is the sort of idea you'd expect from a far left socialist in France. Here, in a McCain nutty nutshell, is the plan: the government (taxpayer alert: McCain is about to spend your money) should spend $300 billion buying up bad mortgages at face value, even though home prices may have dropped below the mortgage value. Mr Wonderful McCain, or rather taxpayers would make up the shortfall. Put as simply as it can be put, McCain wants the government to own homes, creating the biggest stock of housing projects in the world. As a conservative, McCain should gag at such an idea. It's old style socialism, Marxism, government ownership of private housing, and it pays no attention to the free market and how the free market is meant to reward good decisions and punish bad ones. McCain's maverick madness rewards irresponsibility, both of lenders and borrowers, and does zip to help or reward those who made the right decisions by not biting off more than they could chew, i.e. the people who remained in small homes, older homes, unfashionable neighborhoods, and rented accommodation rather than fall for the enticements of greedy and suspect loan givers who didn't care whether you could make your payments or not.
whatever else it was that made people earning $30,000 a year believe they should be living in a $500,000 house. And, of course, it's a reward to the crooks who pulled the wool over people's eyes by offering them the American dream: their own home, big and new, and no need to worry about the payments. Obama hit the nail on the head with his criticism: ""Banks wouldn't take a loss, but taxpayers would take a loss," he said. "It's a plan that would guarantee that you, the American taxpayers, would lose by handing over $300 billion to underwrite the kind of greed and irresponsibility on Wall Street that got us into this mess."
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John McCain: "I want the government to take over your home and allow you to continue living in it. I'm handing out $300 billion of your money to do this. I love big government, don't you?"
That's exactly right, Senator Obama, the McCain-Palin mortgage plan is mad, bonkers, barmy, you betcha!
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