{"id":4537,"date":"2008-09-19T08:21:42","date_gmt":"2008-09-19T15:21:42","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=4537"},"modified":"2008-09-19T08:21:42","modified_gmt":"2008-09-19T15:21:42","slug":"will-the-democrats-endorse-hank-paulsons-mortgage-bailout-plan","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4537\/will-the-democrats-endorse-hank-paulsons-mortgage-bailout-plan\/","title":{"rendered":"Will The Democrats Endorse Hank Paulson’s Mortgage Bailout Plan?"},"content":{"rendered":"

This Presidential election campaign is exciting to watch.\u00a0 Team Obama benefits from the continued free fall on Wall Street.\u00a0 Sean Purcell reminds us that folks on that side of the aisle like to say “I’m from the government, we’re here to help you<\/a>” yet the other side is the one proposing massive government intervention by purchasing defaulted mortgage loans from troubled banks<\/a>.<\/p>\n

This is a rework of the RTC plan.\u00a0 I speculated that it might happen<\/a>, after reading this article<\/a>, on Wednesday:<\/p>\n

There is something we can do to resolve the problem. We should move decisively to create a new, temporary resolution mechanism. There are precedents — such as the Resolution Trust Corporation of the late 1980s and early 1990s, as well as the Home Owners Loan Corporation of the 1930s. This new governmental body would be able to buy up the troubled paper at fair market values, where possible keeping people in their homes and businesses operating. Like the RTC, this mechanism should have a limited life and be run by nonpartisan professional management.<\/p><\/blockquote>\n

Sounds like a plausible emergency stabilization plan, right?\u00a0 Will Congress fast-track this through or will we see Nancy Pelosi go against what Congressman Frank believes, and start saying that the government should not be interfering in financial markets?<\/p>\n

Disarray favors Obama<\/a>.\u00a0 Stabilization favors Mc Cain.\u00a0 Will Congress do everything they can to delay this emergency plan until after the election.\u00a0 After all, they are the government; they’re here to help (if you vote for them).<\/p>\n

Point of Disclosure:\u00a0 In all fairness, Barack Obama conditionally endorsed the Paulson Plan<\/a> this morning.\u00a0 The question is , “Can he get Pelosi to play along?”<\/p>\n","protected":false},"excerpt":{"rendered":"

This Presidential election campaign is exciting to watch.\u00a0 Team Obama benefits from the continued free fall on Wall Street.\u00a0 Sean Purcell reminds us that folks on that side of the aisle like to say “I’m from the government, we’re here to help you” yet the other side is the one proposing massive government intervention by […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-4537","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3352,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3352\/mortgage-market-week-in-review-fannie-and-freddie\/","url_meta":{"origin":4537,"position":0},"title":"Mortgage Market Week in Review – Fannie and Freddie","author":"Tom Vanderwell","date":"July 11, 2008","format":false,"excerpt":"Okay, here it is Friday afternoon and time to write the \"Mortgage Market Week in Review.\" You know how some newscasts warn you to tell the kids to go in the other room because what comes on next isn't going to be pretty? 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The plan would employ Fannie Mae to offer mortgages with rates as low as 4.5%, roughly 1% lower than current rates. The measure is\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11277,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11277\/we-are-all-on-welfare-now-the-governments-assistance-in-the-housing-market-now-is-less-about-giving-us-a-soft-landing-than-it-is-about-having-us-furiously-flap-our-arms-to-stay-aloft\/","url_meta":{"origin":4537,"position":5},"title":"We are all on welfare now: “The government’s assistance in the housing market now is less about giving us a soft landing than it is about having us furiously flap our arms to stay aloft.”","author":"Greg Swann","date":"February 11, 2010","format":false,"excerpt":"The Washington Examiner:The unspoken, bottom line: The federal government has already nationalized the housing industry. 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