This money will come from the same place the $700 billion dollars came from. Loans? Taxes? Nope – the federal reserve. What does that mean? It means they are PRINTING MONEY to pay for this. What, you ask – isn’t that like a banana republic? Won’t our money devalue and become worthless? Yep. Look at the stock market.

obama says the free market republicans are the reason for our economic system’s collapse

Even his own party has said that would not work. I think he just grasping at straws now, throwing things out there and whatever works, he’ll run with it.

Assumingly it will be by federal spending. I totally disagree with this policy, coming from a Republican. Free market means laissez-faire government. Let’s keep that up instead of having the federal hand in even economic problem.

…where is this money going to come from to buy these loans?

They will print it. Fiscal conservatism is DEAD. It’s all on the Discover Card. Pray you are dead before the bill comes due.

Why not read about it yourself and make your own decsion before making accusations which show you do not know what you are talking about.

He has actually TAKEN OUT part of that plan from his own website because he knows it will not work. Buying up loans that are not worth the same today as they were worth at the time only costs taxpayers pockets and nobody would be dumb enough to do it.

First off, let me say that the government should NOT be interferring with the market. The scary part is that these guys don’t know what they’re doing. They can’t give the details on any of their plans to the public because they don’t have any details. Right now they are just trying to come up with ideas and they are throwing every idea out there just to give the investors some hope. They are trying to calm the citizens. They are trying to falsely boost confidence so traders don’t sell based on fear. They are trying to avoid a massive selloff. Our leaders have no solutions. We are on our own now. Nobody can save us. We must rely on ourselves.

You have to remember… all money is…is paper. The government can print money at will. However, in this type of transaction it would just be a “check” that the gov’t would give to the loan holders (banks) that own the mortgages. This would take some debt away from the banks BUT the gov’t would just be buying bad debt. This would just add to the 10 trillion in debt the US already has. Bad Move! I think the mortgages should be renogotiated with the homeowners. Values of homes have dropped. People are paying mortgages on homes that aren’t worth what they were when they purchased them. Renegotiate the loans to an amount the people can afford to pay monthly. This will help eleviate the banks debt without the gov’t taking on anymore debt and printing out more money which would just cause even more inflation… which we definitely do not need.

Nobodys going to buy anything. All these stupid govt. programs are going to be gone no more handouts, neither of their dumb healthcare plan ideas will come to fruition. We are broke and some people are going have to grow up and live in the real world w/o the govt. holding their hands. Lot’s of people wont make it. They can go to socialist Canada and be a burden on them.

The last four weeks of the election will be full of half-truths and lies so it really isn’t worth paying attention to. The purpose of the last four weeks is to get your voters riled up to make sure they get to the polls. A trick you may see is for the McCain side shills pretending to be Dems will convince others that the election is in the bag and you don’t need to go to the polls.

Jack Benny recalls a robber telling him, “Your money or your life!” to which he replied, “Take my wife…please.”

The write down of mortgages to 95% of the market value, reforming loan contracts to 5-1/4% is an idea floated by a Cornell economics professor. This will make the paper held by banks to have a less uncertain value and then the banks will trust that any new money they lend will be paid back. Nobody knows if it will work. But if it’s a good idea don’t you think a Democrat is more likely to do it fairly than a Republican?

The free market has a sprained ankle and government intervention is designed to keep the race running and not make the ankle broken.

The election is coming down to fear and greed; the candidates are very tempted to lie about what they will (might?) do in order to get the popular vote.

The government can print as much money as it desires. This has an effect of diluting the value of the money already in circulation, but, it is done regularly (the USA went off of the gold standard years ago). Yes, McCain knows all about it. He can propose anything that he likes, he is a Senator.

According to many, capitalism is just one stop on the inevitable road to Socialism. Free markets must fail at some point. And, this may be the point.

Finally, no, his idea will not work. It also has an inherent bias that few realized when he said it. If the banks purchase the bad loans, thus saving those people who took these unbelievable risks, e.g., the purchase of a $1,000,000 home with a $25,000 annual salary and no previous credit history and no down payment, then those who work hard each day, pay a normal mortgage, and follow the rules will be the ones who suffer. That is, both their savings or pension plans (401K) have been destroyed and they get nothing out of 25+ years of hard work. Does this sound familiar? ENRON perhaps. Those who played by the rules will receive: no benefit, no mortgage restructuring, no lessening of their credit cards payments, no interest rebates, nothing. In other words, the risk takers (including the banks) will not realize a penalty. This is how the Republicans govern. The same thing happened with Enron, the Savings and Loan crisis, the Penn Square Bank scandal (which along with the S&L crisis was connected to the Iran Contra scandal). The players are always the same. Only the disguise differs.

McCain said the half of the $700 billion bailout should be used to purchase loans in default or in danger of default and than to change the terms of the mortgages to current market values. Obama on the other hand, has said something similar but he wants to appropriate additional monies, not the bailout money. Obama has since retracted that stance and only wants a Wall Street bailout. Who is for the American people and who is for Corporate America? Seems to me like McCain is more interested in the well being of Americans while Obama is more interested in the well being of his rich donors. Get your facts, and candidate, correct.

to obama the truth the light: the democrates think obama will end america so what!

that would suck

your ass will be in chinese or russian hands if you vote for obama