Comments on: McCain: The Plan To Make Lenders Accept Losses Was ‘A Simple Mistake’ http://wonkroom.thinkprogress.org/2008/10/09/mccain-mortgage-mistake/ Mon, 23 Nov 2009 20:29:34 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: D.R.P. http://wonkroom.thinkprogress.org/2008/10/09/mccain-mortgage-mistake/comment-page-1/#comment-2660 D.R.P. Thu, 09 Oct 2008 20:40:50 +0000 http://wonkroom.thinkprogress.org/2008/10/09/mccain-mortgage-mistake/#comment-2660 CONSIDER THIS: http://my.barackobama.com/page/community/post/FNMACoOwnership/gGgKRW CONSIDER THIS:
http://my.barackobama.com/page/community/post/FNMACoOwnership/gGgKRW

]]> By: Mymic http://wonkroom.thinkprogress.org/2008/10/09/mccain-mortgage-mistake/comment-page-1/#comment-2652 Mymic Thu, 09 Oct 2008 18:00:00 +0000 http://wonkroom.thinkprogress.org/2008/10/09/mccain-mortgage-mistake/#comment-2652 I think the market should sort it out. If you cannot pay your mortgage, the bank can renegotiate or evict you as per the terms of the agreement. No one should get any help. If it is flatly stated that no one is getting bailed out, would it not be in the best interest of the bank to renegotiate with the home buyer so they do not end up with a low value home? Also, would it not be in the best interest of the buyer to negotiate that term as well to not get evicted. When either candidate feels it is a good idea to mess with market forces we all lose. My tax dollars will go to subsidize either my neighbor or my banker. Either way I am not being rewarded for being an efficient, responsible consumer and I am picking up the tab. Honestly, why bother to slam just McCains plans? All these plans are bad for the long term health of our country. I think the market should sort it out. If you cannot pay your mortgage, the bank can renegotiate or evict you as per the terms of the agreement. No one should get any help. If it is flatly stated that no one is getting bailed out, would it not be in the best interest of the bank to renegotiate with the home buyer so they do not end up with a low value home? Also, would it not be in the best interest of the buyer to negotiate that term as well to not get evicted. When either candidate feels it is a good idea to mess with market forces we all lose. My tax dollars will go to subsidize either my neighbor or my banker. Either way I am not being rewarded for being an efficient, responsible consumer and I am picking up the tab. Honestly, why bother to slam just McCains plans? All these plans are bad for the long term health of our country.

]]> By: stateofthedivision http://wonkroom.thinkprogress.org/2008/10/09/mccain-mortgage-mistake/comment-page-1/#comment-2650 stateofthedivision Thu, 09 Oct 2008 16:16:49 +0000 http://wonkroom.thinkprogress.org/2008/10/09/mccain-mortgage-mistake/#comment-2650 After $3 trillion in interventions, the big money boys still don't trust one another. Morgan Stanley's debt is nearly 3x worse than Paulson's D-Day. Morgan Stanley fled to commercial bank status and sold a big chunk to a Japanese bank. Temporary impact. The cost to insure $10 million of Morgan's debt for one year was $300,000 on 9-10. Today, <a href="http://peureport.blogspot.com/2008/10/big-money.html" rel="nofollow">that hit </a>$2.5 million, nearly 3 times the level inspiring Hank Paulson to hit the panic button. My guess is McCain knows none of this. After $3 trillion in interventions, the big money boys still don’t trust one another. Morgan Stanley’s debt is nearly 3x worse than Paulson’s D-Day.

Morgan Stanley fled to commercial bank status and sold a big chunk to a Japanese bank. Temporary impact.

The cost to insure $10 million of Morgan’s debt for one year was $300,000 on 9-10. Today, that hit $2.5 million, nearly 3 times the level inspiring Hank Paulson to hit the panic button.

My guess is McCain knows none of this.

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