Lack of Housing Discussion during Pres Debate

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xsocal land merchant_IHB

xsocal land merchant_IHB

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<p>It was interesting that there was no mention of the credit crunch, subprime problem, foreclosure situation, Fed rate cuts, stock market, or inflation during this evenings Democratic Presidential Debate. Maybe "it is not the economy, stupid" as in the first Clinton run.</p>

<p>The only finanical topics brought up were Social Security and Healthcare.</p>

<p>I guess the talking heads asking the questions do not feel that the above items are worthy of even one question. Maybe the problems do not exsist on their radar or are so low in polls that it was not worth the time.</p>

<p>What are the thoughts from the financial gurus or political types here? I am not trying to start a Democratic vs Republican discussion but looking to the larger picture.</p>

<p>An inquiring mind wants to know.</p>

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Honestly, I am surprised, that the biggest subprime blowhard Sen. Chris Dodd hasn't brought it up once. He yammers on, and on about it, but when he is center stage, he never mentions it.





I am very open-minded politically, but Dodd just ticks me off.





One highlight of the debate was Sen. Joseph Biden, who would have thought that he is funny. He has been a riot since the first debate, he obviously doesn't care, and says what he thinks. Regardless of your political party, you have to respect that. I will be watching the debates, just to see what BS he calls out.





I still think that Steven Colbert should have been there.
 
<p>I am glad that they are not talking about it. Maybe they will leave it alone.</p>

<p>Cannot stand Biden. Complete hypocrite (even more so than other politicians) He is the main person who push through the piece of crap also known as the "Bankruptcy Abuse Prevention and Consumer Protection Act" through Congress. </p>

<p>The <a title="Bankruptcy Abuse Prevention and Consumer Protection Act" href="http://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act">Bankruptcy Abuse Prevention and Consumer Protection Act</a> of 2005, Pub. L. No. 109-8, 119 Stat. 23 (<a title="April 20" href="http://en.wikipedia.org/wiki/April_20">April 20</a>, <a title="2005" href="http://en.wikipedia.org/wiki/2005">2005</a>) ("BAPCPA"), substantially amended the Bankruptcy Code. Many provisions of BAPCPA were forcefully advocated by consumer lenders and were just as forcefully opposed by many consumer advocates, bankruptcy academics, bankruptcy judges, and bankruptcy lawyers.<sup class="reference" id="_ref-2"><a title="" href="http://en.wikipedia.org/wiki/Bankruptcy#_note-2">[3]</a></sup> Its enactment followed nearly eight years of debate in Congress. Most of its provisions became effective on October 17, 2005. Upon signing the bill, President Bush stated:</p>





<p>Under the new law, Americans who have the ability to pay will be required to pay back at least a portion of their debts. Those who fall behind their state's median income will not be required to pay back their debts. The new law will also make it more difficult for serial filers to abuse the most generous bankruptcy protections. Debtors seeking to erase all debts will now have to wait eight years from their last bankruptcy before they can file again. The law will also allow us to clamp down on bankruptcy mills that make their money by advising abusers on how to game the system.<sup class="reference" id="_ref-3"><a title="" href="http://en.wikipedia.org/wiki/Bankruptcy#_note-3">[4]</a></sup></p>





<p><a href="http://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act">en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act</a></p>

<p><a href="http://en.wikipedia.org/wiki/Bankruptcy#Bankruptcy_in_the_United_States">en.wikipedia.org/wiki/Bankruptcy#Bankruptcy_in_the_United_States</a></p>

<p>Ever notice how like names of Communist countries, names of crappy bills have names that are completely opposite of their result? (Consumer Protection ... so laughable).</p>

<p>Was he doing it to help the common man? Of course not. . .he is the senator from Delaware. . .guess what state most of the credit card companies are located in? </p>
 
Do you think the plan by the Fed to "insure" agency paper up to $1mil per mortgage will be popular with the people? After all, it may not be seen as a bailout, just as insurance. And it will look as if it will be "insuring" and protecting homedebtors.
 
<p>The median home is $210,000 nation wide. I'd guess 80-90 of the population lives in a home they bought for under $400,000.</p>

<p>The people thru the bulk of the country are pretty straight forward. They hear "million", they 'millionaire' and associate it with "the rich".</p>

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