Are Bailout Funds for Foreclosure Mitigation? Frank Vs. Paulson

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I frankly find it amazing that despite all the legislative efforts to mitigate foreclosures, the political rhetoric to assist mainstreet and mitigate foreclosures, that, to date, nothing has been done aside from the ineffective, voluntary HOPE program while people continue to be forced from their homes. Even a moratorium on foreclosures would be appropriate in the period in which Congress and the new administration figure out how to proceed rather than allowing the status quo to persist, more people to lose their thumbs, and more foreclosures to come as unemployment continues to rise.
This is not just a financial issue, but one that is engrained in the social fabric of our communities. If mass foreclosures continue along with the economic shedding of jobs, the public should mount protests in order to gain a political voice and force a political will to help "main street" which continues to be ignored in the face of the political connections of Wall Street.
Not all of those facing foreclosure are speculators, many are everyday people who lost their jobs, lost their businesses, or the like - those people who are the foundation of our country and economy. I am one.

William of DC 1:45PM February 06, 2009

Who in there right mind would trust anything this peace of crap has to say, He is a looser sexual deviant who has no credibility we need to get him off the any committee regarding finance of anything he is corrupt at best

John Los Angeles of CA 12:01PM December 05, 2008

Not one penny of tax payer money should be provided to or set aside for mortgage debt. If the government wants to sponsor lower intrest rates for home owners than let us all have it. Folks who signed up for mortgages that they could not afford, had no history of being able to pay and in many cases no intention of paying should get no benefit for those failings. Furthermore, their debt should not be cancelled or reduced. The institutions that provided those loans should likewise not be protected in any way. They incurred the liability. Let them pay for the risk. No one is going to be sending me a check and I have faithfully paid my mortgage(s). No money for reprobates.

Buddesatva of MO 4:40PM November 21, 2008

I guess Mr. Miller did not buy his home it must have been a gift or he would know a buyer just does not decide he is going to buy a million dollar home. The buyer has to go through all kinds of checks and balances, such as verification of employment, debt to income ratio checks among many others. If the mortgage broker/banker does not do his job and allows or encourages a buyer to buy beyond his means, they are at fault not the homebuyer. The mortgage broker is the gatekeeper but if he is only thinking of making his money and the hell with everyone else than the blame is on the broker/banker for allowing the loan to go through. So quit your dumb complaining and put the blame where it belongs with the broker/banker. They are the ones who approve a loan, not the buyer. The only a**holes here are the gearheads who complain, the broker and the predators who took advantage of the buyers. The $700 billion was originally approved to help homeowners in foreclosure and then Wall Street but it was very clear to us all where Bush and Paulson's main concern was at --- Wall Street tycoons. It was stated there would be transparency and limits put on Wall Street which was not done. Thanks to Paulson's leniency and favortism to Wall Street. In the end we have no one else to blame but ourselves for not putting their feet and butts to the fire immediately. We need to keep the pressure on Paulson and Bush, they are the ones responsible and accountable for the Bailout.

Ann of IA 8:20PM November 19, 2008

We need to assist families in foreclosure not the unethical, cheating Wall Street tycoons. They are multi-millionaires who could sell one of their multi-million dollar homes and still live in luxury. People in Main Street American don't have that luxury. We own only one home usually worth less than $300,000. So far, Paulson has given billions to Wall Street so they can turn around and spend hundreds of thousands on luxury spas and expensive dinners. We need to demand they pay that money back and demand No More aid to Wall Street they can afford to file bankrupcy and then restructure and start over. Let them use the multimillions they have taken over the years. What we need to do NOW, not later, is assist homeowners and the auto industry. If we don't negotiate with them now, we will have to pay later when they are all out of jobs, lost homes, apply for unemployment, food stamps, and are on Medicaid. While Wall Street is living in luxury, Main Street will be in dire straits. I know Bush and Paulson are on their way out and they probably figure let's help our supporters on Wall Street and the hell with the rest of them. That's how the Republicans think.

Ann of IA 7:57PM November 19, 2008

I'm sure that as one of the boobs who helped cause this mess, he thinks he can fix it. Yea, right! Speaking as a homeowner who is paying his mortgage, partly because he chose to buy property he could afford. I don't need a bailout and will resent to my dying day any a**hole who gets a government bailout because he did not have the common sense not to overextend his credit.

Charles Miller of FL 3:33PM November 19, 2008

What’s next? What industries will ask for bailouts after those we've heard about so far? Are you ready to escape the craziness and secure your own financial future??? www.LikeSoup.com

James Campbell of CA 1:37PM November 19, 2008

hopefully the voters that put Frank in will vote him out too.
That clown couldn't operate a newspaper stand. He would
make a good verbal whipping boy for any gay club,
Otherwise he is useless.

Fury of GA 12:38PM November 19, 2008