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Saturday Night Open Thread

By TChris, Section Blog Related
Posted on Sat Nov 15, 2008 at 11:00:44 PM EST
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Your feet are going to be on the ground
Your head is there to move you around

An open thread for you.

< Bush's Unstated Conclusions and Irrelevant Remarks | Sunday Talk Open Thread >

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    Saturday Night Open Thread | 4 comments (4 topical)

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    LLiLR (5.00 / 2) (#1)
    by andgarden on Sat Nov 15, 2008 at 11:05:53 PM EST
    writes to the Times. (Second from the top).

    Um, *LN--oops (none / 0) (#3)
    by andgarden on Sun Nov 16, 2008 at 09:14:54 AM EST


    Parent
    I have just trotted over (5.00 / 1) (#2)
    by lilburro on Sun Nov 16, 2008 at 04:50:36 AM EST
    from The Field, where the possibility of Hillary as Secretary of State has people up in arms.  As people wonder what has become of Obama surrounding himself with former employees of the Clinton administration, I give you this song, dedicated to John Brennan:

    The More You Ignore Me, The Closer I Get

    There are some bad people on the Right, you know...

    Reverse Mortgages to Save the Mortgage Crisis (none / 0) (#4)
    by cpa1 on Sun Nov 16, 2008 at 10:04:46 AM EST
    I have an idea.  Let's say someone who never should have gotten a mortgage is about to default.  The government steps in and forces an agreement with the mortgagee and the mortgagor whereby the Treasury now has an equity interest in that property, like a reverse mortgage.  Rates are lowered and the length of the mortgage is increased.  That costs the banks and the person owning the house but he or she still has a house.  Now, the banks are a little more protected but, in order to accomplish this deal, which the Treasury guarantees, the Treasury is give a percentage of the house upon sale, let's say 15%.   If the homeowner can't pay and just walks away, the bank loses the 15%.  If the homeowner stays paying off the longer mortgage, when it sells, 15% goes to the Treasury.

    What will that do?  It will change the panic and not smack the face of all the taxpayers who have not purchased mortgages way out of their range.  It changes the mood and makes people more productive and that is necessary to keep the real estate tax base intact and financially viable to provide money for the states, the schools and the local municipalities.

    Republicans are great for bleeding the economy and then telling everyone we have to be lean and mean and cut everywhere.  Well, you cannot grow an economy if the the 90% can't spend, buy American products and services and ultimately provide tax revenues to keep our economy and obligations going.  Republicans want GM, Ford and Chrysler to file for chapter 11.  That will kill those companies because who is going to buy a car from a company that could not be there in a year?  Plus, who pays for the pension obligations of their retirees and who pays for the Medicaid all these millions of people will be seeking.  We need to find a way to grow not recede.

    What do you all think?

    Saturday Night Open Thread | 4 comments (4 topical)

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