Obama's response to critics: The plan will not support irresponsible homeowners.
"It will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans. It will not help speculators who took risky bets on a rising market and bought homes not to live in but to sell," Obama said Wednesday. "It will not reward folks who bought homes they knew from the beginning they would never be able to afford."
And you believe that horseshit line? After Congress just appropriated 5.2 BILLION DOLLARS $$$$$$$$$$$$$$$$$$$ for "community action" groups like ACORN to proliferate?
What will happen is abandoned or foreclosed homes will be sold at 10 cents on the dollar to "connected" DemonRat supporters. Homes where the "unfortunate" people are "squatting" will have their mortgages reworked REGARDLESS of their ability to pay a fair price. THEY WILL REWORK THE PRICE OF THE MORTGAGE DOWN TO 30% OF THEIR WELFARE INCOME TO MAKE IT WORK. The FRAUD this policy will spawn in the inner cities (where ACORN operates and DemonRat voters live) will make Bernie Madoff look like a RANK AMATEUR!
Middle class howmeowners won't have a chance in hell to rework their mortgages under this plan. Welfare income won't come close to bridging the gap and they will be deemed the group "unable to afford their mortgage in the first place."
THIS PLAN IS ALL ABOUT REWORKING MORTGAGES FOR INNER CITY DWELLERS ON WELFARE! IT WILL ADVANCE THE DEMONRATS' PLAN TO REDUCE THE MIDDLE CLASS TO THE LOWER CLASS!
in 1965, ted, the swimmer, kennedy said..."The bill will not flood our cities with immigrants. It will not upset the ethnic mix of our society. It will not relax the standards of admission. It will not cause American workers to lose their jobs." (U.S. Senate, Subcommittee on Immigration and Naturalization of the Committee on the Judiciary, Washington, D.C., Feb. 10, 1965. pp. 1-3.) http://www.cis.org/articles/1995/back395.html