One would think Obama would figure out by now
 

we the people are not impressed with his "can't wait", "pass this bill...quickly",
and his continued passion for justifying why what he proposes needs to be done ASAP.....all of which is very consistently followed by him presenting his litany of why he can't get anything done.

So now it is fixing the underwater mortgages...if you are with FannieMae/Freddiemac.....the rest don't matter.

No doubt a hurried bail out of Freddie/Fannie....AGAIN. It was only a few short weeks ago they were bantering the need for more money.
Well Obama is gonna get it for them....again....in the name of helping those with underwater mortgages.

If the issue is underwater mortgages, then why is his thinking so narrow as to only think the only ones under water are Freddie/Fannie products. Because he is beholding to them and not the other banking institutions that have not been muscled by Obama and his team.

And again by passing the constitution in the name of not wanting to be blocked by the republicans....he is so predictable...with his blame agenda...a major indicator of non executive capability. Competent executives do what it takes to get the job done....and they don't promise what they cannot deliver...Obama tells you why he couldn't get it done and promises anything to make the audience feel good....all traits of no leadership capability.

He is consistent....unfortunately for we the people.

btk

PS don't forget to keep an eye peeled toward what Freddie and Fannie get out of this latest hurry up deal.

A part of the answer is that Obama's skills are limited to that of a community organizer. A second part of the answer is that his major influences came from people who either despised America or believed being an American gave them the right of passage to entitlements.

Fannie and Freddie both governmenr sponsored enterprises (GSE) via Dodd, Frank Pelosi, Reid pushed to provide homes to people who simply were not qualified. Obama continues to game play by providing faux plans that never will work because too many of these homeowners are so over leveraged that they couldn't py off their loans in two lifetimes. Ergo one of the reasons we have those very nasty greedy bankers and /or that 1% This populist move against bankers is also his hope for more votes in 2012

Just another reminder that the President's job, as outlined in the Constitution, is to draft and promote ideas, not legislate them. The absolute "no" of the opposition doesn't make it easy. So Obama continues to push publicly to keep attention on the issues and appeal to the people to influence their legislators.

This week he's still strenuously pushing elements of the Jobs bill. And he has directed that a segment of existing federal housing money be spent to assist about one million homeowners to be legally able to refinance. That action will significantly reduce the number of impending foreclosures. These folks will now have access to cheaper rates already available to those who in many cases by sheer luck did not see their home values plummet. Some of our posters need to recognize that many people with upside down mortgages are not deadbeats, but victims of what happened in their particular communities. And when these folks refinance to current rates, they will not only be able to continue to pay their mortgages but have something left over to buy a few consumer goods. They will not be banking in the Caymans or skiing in the Alps.

Let's be positive and look to solutions instead of problems. Pretend you have the powers of the President. Within those powers, tell us specifically what you would do with to solve the unemployment and housing dilemmas.

The jobs bill is just more smoke and mirrors that will accomplish nothing but reinforce his union commitments. It is money down the sink hole.
We need a president that is really trying to get the economy going again instead of the deliberate attempt to destroy our American way of life. All he is doing is trying to pit the poor against the rich. Class envy is his last attempt to get reelected because he has ruined the economy and has nothing tangible to run on. He is a failure and needs to be removed from office ASAP.

I'm still looking for positives. How about some of your ideas as "a president that (sic) is really trying to get the economy going again..."

Positives? November 2012 there will hopefully be a positive outcome. A new beginning. We have had 3 years of this regime and I think it is too late for a change in direction. The new direction will be from the polls.

a thoughful post from ijusluvit followed by the usual dribble that really says nothing about the issue and certainly provides no answers to our problems.

Not Quite True
 

Freddie and Fannie insure a huge percentage of the mortgage loans made in the U.S. Recently, I read that they insure around 90% of all the mortgage loans outstanding. So the criticism of President Obama in seeking additional federal funding for the two quasi-government agencies is somewhat misplaced. If approved, it actually would support a huge percentage of the loans outstanding.

Maybe a better question might be, is continuing and supporting the guarantees issued by Freddie and Fannie the best way to address the current underwater mortgage crisis? The crisis will not and cannot be solved until all the mortgage loans which are in default or near default are written off by the lenders or guarantors and replaced with new loans. That step alone would revitalize our economy, provide an instant and permanent "stimulus" as it were.

Why not do that? Because it would favor those who were irresponsible in borrowing more than they should have over more responsible borrowers. If you think the argument over Obamacare was intense, consider what would happen if that were proposed as legislation. And the argument over how such a decision would again benefit the banks and investment banks would be uproarious. But in the end, that's the only way that our economy can be permanently and properly stimulated into recovery. It wouldn't be "fair". But it surely would work. And it might be cheaper in terms of taxpayer dollars than any of the economic stimulus ideas that have been tried and are now being considered.

And the angst in Las Vegas where the mortgage refinance plan was announced, was that the rules are too conservative. Among other restrictions, you aren't eligible to refinance if you've missed more than one mortgage payment in the past twelve months.

So, this step is only a beginning. It's only going to help about a measely million homeowners. I think it's a good first step.

Correct on all counts. The real issue will be what you described - the issue of fairness. As George Bernard Shaw said, "“A government with the policy to rob Peter to pay Paul can be assured of the support of Paul.” Getting the 'Peters' of this country to go along with this will be nearly impossible. Subsidizing both Wall Street and the Wall Street Protestors will go over like a lead balloon.

You mean dribble has no answers? We now have a new name for B.Hussein Obama, "dribble":a20:

my point proved yet again. Nothing constructive,just more inanae name-calling.

Please add to the discussions and not criticize fellow posters. You are being a little hypocritical?

I am willing to wait and see how it turns out for the people who need it.
I will withhold my usual rant about the intents never matching actuals until this one has time to work.

If as VK stated that as many as 90% of mortgages backed by F&F then there is real potential for a real impact to be made.

However, I cannot resist my favorite haunting ...we are still awaiting the kick off of the quest for energy independence, a pre-election promise, with the potential for hundreds and thousands of new jobs and a signal to the world we are doing it!!! This one is a poster child for Obama, in my opinion, of Obama's propensity for talking the talk with no walk!!

btk

billethkid, thank you for finally informing me that the "O" is just another politican. All talk and no walk, just like the rest of the 534, minus the talk and no walk one.