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McCain says:"Home Owners are Innocent Bystanders"


boobiemiles

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"A drive by shooting", It makes me laugh how these politicians throw words out there like they know what they are talking about. Has McCain ever been in a drive by shooting? WTF is he talking about? And if Obama is a socialist, what is McCain. he wants to give relief to homeowners at the expense of the tax payers? How is that not socialism?

McCain: Mortgage crisis a 'drive-by shooting

NEW: "McCain says foes won't try to test him if he's president".....huh?!!!

Meltdown "never should have happened," GOP nominee says

Interview to air Wednesday afternoon on "The Situation Room"

MANCHESTER, New Hampshire (CNN) -- "Homeowners are the innocent bystanders in a drive-by shooting by Wall Street and Washington," Republican presidential candidate John McCain said Wednesday.

"It never should have happened," he said of the mortgage crisis that has shaken financial markets, and it would not have happened if he had been president, he said.

McCain defended his vote in favor of the government's $700 billion plan to prop up the lending industry, despite his insistence that as president he would cut spending.

"Extraordinary circumstances require extraordinary actions," he told CNN's Wolf Blitzer in Manchester, New Hampshire. The interview is to air on "The Situation Room" at 6 p.m. ET Wednesday.

McCain said he will consider a second economic stimulus package if he is elected president. Watch where the candidates stand on the economy »

He attacked Barack Obama, his Democratic rival for the White House, for saying that "when you spread the wealth around, it's good for everybody."

That is "certainly not something I would ever do," he said.

Obama made the comment as he defended his proposal to raise taxes on couples earning more than $250,000 a year while cutting taxes for those with lower incomes. Obama says his plan would lead to lower taxes for 95 percent of American families.

McCain contended that Obama has been "all over the place" with his economic proposals.

And he said flatly, "I won't raise taxes on anybody."

He also vowed to "fix Social Security," refusing to rule out raising the retirement age or allowing some Social Security funds to be invested in the stock market.

He raised -- as he has for days -- a comment Obama's running mate, Sen. Joe Biden, made recently that if the Illinois senator becomes president, America's foes will manufacture a crisis to test him.

McCain said that will not happen if he wins the election.

"They know I have been tested. I have been tested many times," McCain said.

McCain discounted former Secretary of State Colin Powell's endorsement of Obama, saying that five former secretaries of state had endorsed McCain. Watch McCain say he 'respectfully disagrees' with Powell »

McCain said he is confident of victory November 4, though many polls show him trailing far behind Obama.

CNN's Poll of Polls showed him 9 points behind Obama nationally on Tuesday, with 7 percent of voters undecided

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"Homeowners are the innocent bystanders in a drive-by shooting by Wall Street and Washington," Republican presidential candidate John McCain said Wednesday.

If he would say this I would agree with him:

Homeowners and other citizens who live within their means are the innocent bystanders in a drive-by shooting by Wall Street and Washington," Republican presidential candidate John McCain said Wednesday.

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On this McCain is a bafoon!! Innocent huh. I've always said and stand by it, that if you don't read and ask enough questions about a mortgage, you are an idiot.

I've heard the excuses that, they were tricked or mislead. How. If it was in writing and the mortgage company pulled a fast one that is criminal.

However, I believe the vast majority of people were told such and such and no one questioned it or read the loan papers to see if what they were being told was accurate.

That is stupidity. I'm quite sure the loan comanies lied to get people to sign the papers, however, it isn't their fault if those same people don't read and make sure what they are being told is true.

I took the loan docs home over night and read through them to make sure I was getting what I was told I was getting. I than aked numerous questions.

The only way that these people are innocents are if they were lied to and the loan docs didn't back up what was told to them, given they read them to begin with.

outside of that scenerio, this whole thing can be chalked up to supid, uninformed people who got loans they couldn't afford and now the piper has come to collect his due.

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Just so I'm clear, selling to somebody for "over inflated" is bad. Is "over inflated" to be determined 6 months after the sale, 3 years after, or whenever we chose to make a point?

Funny thing is I was always taught fair price was whatever the demander will pay. In fact, I was mocked occassionaly in colleg for saying I thought fair market price was only slightly higher than whatever the second highest bidder would pay. Think of it as ebay determining fair market value to take away from gauging the desperate outlier. I was derided as not a pure capitalist as if that were bad. I wonder what my teachers and fellow students think now.

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Just so I'm clear, selling to somebody for "over inflated" is bad. Is "over inflated" to be determined 6 months after the sale, 3 years after, or whenever we chose to make a point?

I'm not saying that is "bad" in the sense of malicious intent....

....oh forget it. Why am I wasting my time?

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This just in:

Obama plans to eat your firstborn child if he becomes president.

said Sen. McCain, "This sort of behavior is disgusting and un-American. I will not tolerate nor support such behavior. Mark my words, I will, at the very most, eat your family pet. That's a promise my friends."

said Sen. Obama in retaliation, "Bush was going to do it first anyway. Do we want the same failed policies concerning which elected official has to eat what member of your family? the time for change is now yeswecan!"

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I don't get McCain's argument here. If loan officers committed fraud, then they should be prosecuted. But people buying properties that they couldn't make payments on don't deserve sympathy, especially in this country as they can walk away from the contract they signed without the mortgage companies coming after their other assets.

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Some are innocent. Most aren't. Most either lied to themselves or were planning to pull a fast one and earn money on a flip they couldn't afford.

I agree in principle. I do think that most people are in homes they can afford. Some want to live outside their means whether it be the home they buy, the car they drive, the stuff they have, or all of the above. I guess it is easier to get elected by sacrificing the Wall Street vote by blaiming everything on them.

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This just in:

Obama plans to eat your firstborn child if he becomes president.

said Sen. McCain, "This sort of behavior is disgusting and un-American. I will not tolerate nor support such behavior. Mark my words, I will, at the very most, eat your family pet. That's a promise my friends."

said Sen. Obama in retaliation, "Bush was going to do it first anyway. Do we want the same failed policies concerning which elected official has to eat what member of your family? the time for change is now yeswecan!"

That's terrible. FOX is actually reporting that Obama poisoned his own grandmother to try to get a few extra sympathy votes.

No, they didn't... but it's gotten almost believable at this point that someone would, isn't it?

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I do not get why the stimulus check and the bailout is not socialist but raising taxes on those making $250,000 or more a year is. ALL of this money comes from us..it all comes from our taxes so why is it different. Please elaborate I just don't get it.

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Personally I don't have a problem raising the rich's taxes some, its just what the gov't chooses to do with those taxes that I care about.

And yes, many of conservatives were against the stimulus check (as well as the whole "our economy lives or dies on consumerism, so let's buy things" mentality).

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he wants to give relief to homeowners at the expense of the tax payers? How is that not socialism?

You mean republicans are not credible when it comes to accusing it's opponents of socialism. Shocker. It is sort of amusing listening to conservatives talk about Obama saying "spread the wealth" being a game changer. Last time I checked, a republican administration just pushed the nationalization of the finical sector.

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You mean republicans are not credible when it comes to accusing it's opponents of socialism. Shocker. It is sort of amusing listening to conservatives talk about Obama saying "spread the wealth" being a game changer. Last time I checked, a republican administration just pushed the nationalization of the finical sector.

You seem to have "conservatives" and "republicans" mixed up. They are two different groups. I'm a conservative, republicans are essentially liberals light and democrats are just plain liberals. Conservatives don't have a party anymore. Bush should be considered a liberal.

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You seem to have "conservatives" and "republicans" mixed up. They are two different groups. I'm a conservative, republicans are essentially liberals light and democrats are just plain liberals. Conservatives don't have a party anymore. Bush should be considered a liberal.

Well, fair or not. Republicans have spent the last twenty years trying to make conservative synonomous with Republicand and Democrat synonomous with liberal. So, if a Republican fails to live up to the title and label they gave themselves and trumpeted so loudly they deserve to be picked on AND it gives conservatives a black eye.

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On this McCain is a bafoon!! Innocent huh. I've always said and stand by it, that if you don't read and ask enough questions about a mortgage, you are an idiot.

I've heard the excuses that, they were tricked or mislead. How. If it was in writing and the mortgage company pulled a fast one that is criminal.

However, I believe the vast majority of people were told such and such and no one questioned it or read the loan papers to see if what they were being told was accurate.

That is stupidity. I'm quite sure the loan comanies lied to get people to sign the papers, however, it isn't their fault if those same people don't read and make sure what they are being told is true.

I took the loan docs home over night and read through them to make sure I was getting what I was told I was getting. I than aked numerous questions.

The only way that these people are innocents are if they were lied to and the loan docs didn't back up what was told to them, given they read them to begin with.

outside of that scenerio, this whole thing can be chalked up to supid, uninformed people who got loans they couldn't afford and now the piper has come to collect his due.

I completely understand where you are coming from here. I use to help people refinance their home. When i worked at Safe Guard Mortgage the principla was very fair. He would walk his potential clients through the process and insist they take the contract home and share it with a third party that could make sure the mortgage was drawn on sound language.

Then when I went to Conseco, they employed predatory leading practices. Everyone was subject to high interest rates, even when the rated hoovered around 4.5% prime. Even customers that had 725 credit score were subject to rated in excess of 7%. The hook wa they could refi at 85% loan to value. That was a joke. I left that place and tried to work with some of the clienst I thought were given a raw deal. This one lady allowed this guy to talk her into a mortgage that was so high she could not escrow her insurance because it would put the mortgage higher that 85% LTV. i said "stop" redo the policy, and take some of the revolving credit out, so your not mortgaging them over 30 years. They let some nody talk them into someting they didn't want. And it was there fault they didn't look into the situation deeper. I mean Jesus, it's a mortgage. You have to look at the fine print, you are signing a deal that is locking you into a 30 year obligation. most marriages don't last that long. And constantly people would let "Loan Officers" that had no training or financial designations to tell them what to do, and just follow without doing, or wanting to do their home work. It was like they were happy to play the fool.

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I do not get why the stimulus check and the bailout is not socialist but raising taxes on those making $250,000 or more a year is. ALL of this money comes from us..it all comes from our taxes so why is it different. Please elaborate I just don't get it.

Given I don't agree with it in principle anyway, it is different. They aren't bailing out everyone. Just those who control the money...so it appears.

if it were socilaist, than that money would be distributed to everyone alike.

Again don't get me wrong, this bailout is so wrong on so many levels and we are all getting screwed.

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Nothing could make me roll my eyes more than this "innocent bystander" crap. Are there some innocent bystanders? Sure. But there are just as many, if not more, people who didn't see a problem with buying three times the house than they knew they should really be able to afford.

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