Ninja President ends the nine-year war in Iraq

Meanwhile, former Bush official, current Fox and AEI lackey John Bolton had this to say on Fox:

" The critical oil and natural gas producing region that we fought so many wars to try and protect our economy from the adverse impact of losing that supply or having it available at very high prices "

http://www.youtube.com/watch?v=uFbpKKOEnAE&feature=feedf

Without a doubt, but one did it and one didn't.

Didn't it keep getting negotiated then pushed back? 

Ninja President is also going around the do-nothing congress and the greedy, disgusting, foreclosure-crazy, fee-laden banks to help people who are underwater on their properties modify their loans. 

There is no problem with it.  In fact, it's the right thing to do from any angle.  Where it runs into trouble is with the big banks, who have worked out how they can squeeze the maximum amount of profit out of this clusterf*ck they created, and that solution doesn't involve keeping people in their homes.  In fact, if you ask Mitt Romney, to hell with civilized society--let's just let the world crumble so that investors can pick apart the crumbs and make even greater profits!  Hooray for corporate socialism!

Not a negative one, not that I can think of.  On the other hand, I can see a MASSIVE ripple effect to do what the GOP seems to think is the answer, which is to let everything bottom out, which is that EVERYTHING will bottom out, property tax collection, home values (for everyone, not just those who are foreclosed on but their neighbors and on and on), the unmooring of communities, increases in poverty and homelessness and a hundred other things.  There is only ONE thing that has stood in the way in terms of addressing this highway robbery of a real estate bubble, and that has been the profit margins of the banks, period.  Even Ron Paul, God bless him, said in one of the debates that he would rather have seen the borrowers bailed out than the banks that engaged in so much fraud, both illegal and (thanks to Republican Phil Gramm and co.) legalized fraud, to enrich those at the top literally at the expense of this country's stability and wealth.  &^%$ers.

I admire your effort to find reason behind what comes down to pure nihilistic greed, but trust me, if there is, Frank Luntz/Carl Rove/Heritage/Freedomworks haven't come up with it yet. 

Tzudohnihm, think about it, the value of your assets go down, the value of your neighbors' assets go down, the small businesses in your community lose massive value and lose their customer base at the same time, the banks that hold the debt on your, your neighbor and your community's assets go down, what do you think that does to an ecomony?  What are the consequences if that bank goes down?  What are the consequences of huge companies cannibalizing small ones?  Don't worry about experts, what does common sense tell you?

Quote:

Originally Posted by Cylon Baby 

Ninja President Obama soothes bawling baby at S.F. airport

 

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/10/25/BA0F1LMB17.DTL

Seriously!

It's not hero worship to point out his accomplishments when you consider that Obama gets the worst press of any President.  Pew did a study showing his coverage is something like 60% negative. 

Quote:

Originally Posted by TzuDohNihm 

Wait, you told me you see no negative consequence to resetting all mortgages.

Sorry, I thought you meant the Romney plan to zero out all the mortgages and let the cannibals in the investment community take over.

Quote:

Originally Posted by TzuDohNihm 

OK, slight miscommunication.  No I was genuinely looking to expand on what kind of ripple effect would occur if we refinanced all mortgages that need them.  Refinancing at new terms and new rates would leave approximately how much of a gap in lost value dollars?  Things like that.  I haven't heard of Romney's plan and was referring more to stop gap measures that Obama seems to be taking and wondering why we don't just refinance everything?

It would be a positive for individuals, families, communities and the economy as a whole.  And again, the only ones who would take a hit would be the big banks who set the stage for, stoked and profited wildly from this bubble, and since they are gazillionaires with untold power over our elected representatives, that's what's keeping Congress in check about doing the right thing and has been from the beginning -- I mean, the very beginning.  Which is why Obama's actions to at least chip away at the foreclosure crisis using executive authority and the GSEs is incredibly bold.  Wall St. already hates him for the Consumer Financial Protection Bureau and that will be reflected in a big way through dark-money negative ads in the run-up to the election.

ETA: The banks might say these write-downs would prevent them from lending (and therefore "creating jobs") or some other hocus pocus, but that would be a demonstrable lie since they're sitting on trillions in capital right now, and have been for a while, that's just netting them interest from the Treasury.  So they're not lending now anyway.  But that might be what you'll end up hearing on Fox News.