Comments on: Barack Obama’s “Answer” to the Subprime Mess http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Fri, 25 May 2012 02:50:51 +0000 hourly 1 http://wordpress.org/?v= By: Harry Brown http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/comment-page-1/#comment-443511 Harry Brown Wed, 28 Apr 2010 11:53:14 +0000 http://allfinancialmatters.com/2007/12/09/barrick-obamas-answer-to-the-subprime-mess/#comment-443511 Barack Obama is the best democrat president in my opinion. he makes the best judgment and foreign policies.. - Barack Obama is the best democrat president in my opinion. he makes the best judgment and foreign policies.. -

]]> By: JLP http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/comment-page-1/#comment-191469 JLP Mon, 17 Dec 2007 16:00:45 +0000 http://allfinancialmatters.com/2007/12/09/barrick-obamas-answer-to-the-subprime-mess/#comment-191469 Fuzzy, As bad as I feel for those who are losing their homes, I don't think it should be the taxpayers' responsibility to make arrangements so they can stay in a house they can't afford. So, I don't think we should do anything but allow the market to work its magic. Fuzzy,

As bad as I feel for those who are losing their homes, I don’t think it should be the taxpayers’ responsibility to make arrangements so they can stay in a house they can’t afford. So, I don’t think we should do anything but allow the market to work its magic.

]]> By: Fuzzy Dunlop http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/comment-page-1/#comment-191461 Fuzzy Dunlop Mon, 17 Dec 2007 15:49:30 +0000 http://allfinancialmatters.com/2007/12/09/barrick-obamas-answer-to-the-subprime-mess/#comment-191461 What would you all propose doing about this foreclosure mess, or do you believe it's not a mess? And if not, why not? Thank you. What would you all propose doing about this foreclosure mess, or do you believe it’s not a mess? And if not, why not? Thank you.

]]> By: lorax http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/comment-page-1/#comment-188183 lorax Tue, 11 Dec 2007 13:12:49 +0000 http://allfinancialmatters.com/2007/12/09/barrick-obamas-answer-to-the-subprime-mess/#comment-188183 @Jayson Is there something in the text indicating that the $1000 must be used for buying homes? If not, then it isn't much different then the Reagan-era EITC. @Jayson Is there something in the text indicating that the $1000 must be used for buying homes? If not, then it isn’t much different then the Reagan-era EITC.

]]> By: Jayson http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/comment-page-1/#comment-187792 Jayson Tue, 11 Dec 2007 02:15:54 +0000 http://allfinancialmatters.com/2007/12/09/barrick-obamas-answer-to-the-subprime-mess/#comment-187792 If you give people $1000 a year more to pay for their homes, home prices will go up. Just like if Hillary gives $5000 to families for their kids' college, then colleges will just raise their prices by 5 grand. When lending institutions threw money at homes, home prices went up. It doesn't solve the problem. If you give people $1000 a year more to pay for their homes, home prices will go up. Just like if Hillary gives $5000 to families for their kids’ college, then colleges will just raise their prices by 5 grand. When lending institutions threw money at homes, home prices went up. It doesn’t solve the problem.

]]> By: lorax http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/comment-page-1/#comment-187739 lorax Tue, 11 Dec 2007 00:14:24 +0000 http://allfinancialmatters.com/2007/12/09/barrick-obamas-answer-to-the-subprime-mess/#comment-187739 Assuming "redistribution" is necessary, I believe economists would take Obama's plan over Bush's (or Clinton's). The idea is to get liquidity into the system at the demand level. Folks are free to spend it where they choose. And since the people Obama is targeting have a 100% propensity to consume, they will spend it and fuel the economy. OK. It won't prop up the housing market. But then that is a bad idea. I think Obama knows this too. Assuming “redistribution” is necessary, I believe economists would take Obama’s plan over Bush’s (or Clinton’s).

The idea is to get liquidity into the system at the demand level. Folks are free to spend it where they choose. And since the people Obama is targeting have a 100% propensity to consume, they will spend it and fuel the economy.

OK. It won’t prop up the housing market. But then that is a bad idea. I think Obama knows this too.

]]> By: Foobarista http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/comment-page-1/#comment-187726 Foobarista Mon, 10 Dec 2007 23:58:41 +0000 http://allfinancialmatters.com/2007/12/09/barrick-obamas-answer-to-the-subprime-mess/#comment-187726 Bush had to do "something". The fact that he did quite little, but something, means that other politicians are reduced to quibbling over details versus principle-based argument over "the role of government". At the moment, when populist silliness is at maximum volume, you aren't going to win such an argument with a strict free-market line. So, do "something", but very little... Bush had to do “something”. The fact that he did quite little, but something, means that other politicians are reduced to quibbling over details versus principle-based argument over “the role of government”.

At the moment, when populist silliness is at maximum volume, you aren’t going to win such an argument with a strict free-market line. So, do “something”, but very little…

]]> By: Kirk http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/comment-page-1/#comment-187542 Kirk Mon, 10 Dec 2007 17:33:55 +0000 http://allfinancialmatters.com/2007/12/09/barrick-obamas-answer-to-the-subprime-mess/#comment-187542 I am just wondering how Obama went from helping subprime borrowers to the government making contributions to pension plans. Hmm...seems a bit of a stretch. Fortunately, Bush's plan does little. It applies to only a small percentage of homeowners, and the lenders do not have to comply. Basically, it is letting the market correct without saying that...or so I hope. I just wish we had a politician who had the guts to say, "you made your bed, now lie in it." I am just wondering how Obama went from helping subprime borrowers to the government making contributions to pension plans. Hmm…seems a bit of a stretch.

Fortunately, Bush’s plan does little. It applies to only a small percentage of homeowners, and the lenders do not have to comply. Basically, it is letting the market correct without saying that…or so I hope. I just wish we had a politician who had the guts to say, “you made your bed, now lie in it.”

]]> By: Esmo http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/comment-page-1/#comment-187539 Esmo Mon, 10 Dec 2007 17:31:05 +0000 http://allfinancialmatters.com/2007/12/09/barrick-obamas-answer-to-the-subprime-mess/#comment-187539 I don't want to turn this into a Ron Paul derail, but Obama's solution just isn't that effective. Mortgage payments, like everyone has mentioned, are too high for a small amount like $1,000 per year to help with. This is on top of the fact that people will be losing their houses, not their lives. When I first heard about Obama, I thought he was actually going to stand for something and make change, demonstrated by his previous history. Now I think he won't change anything, particularly by statements like this. I don’t want to turn this into a Ron Paul derail, but Obama’s solution just isn’t that effective. Mortgage payments, like everyone has mentioned, are too high for a small amount like $1,000 per year to help with. This is on top of the fact that people will be losing their houses, not their lives.

When I first heard about Obama, I thought he was actually going to stand for something and make change, demonstrated by his previous history. Now I think he won’t change anything, particularly by statements like this.

]]> By: FinanceAndFat http://allfinancialmatters.com/2007/12/09/barack-obamas-answer-to-the-subprime-mess/comment-page-1/#comment-187489 FinanceAndFat Mon, 10 Dec 2007 15:36:25 +0000 http://allfinancialmatters.com/2007/12/09/barrick-obamas-answer-to-the-subprime-mess/#comment-187489 Sounds like the 'solution' you would expect from someone who wants votes in an election year. I'm interested to see the further comedy that is sure to follow as the other candidates jump on the sub-prime bandwagon as they seek votes this year. Sounds like the ‘solution’ you would expect from someone who wants votes in an election year. I’m interested to see the further comedy that is sure to follow as the other candidates jump on the sub-prime bandwagon as they seek votes this year.

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