Double Talk of Rep. Tauscher
02 March 2009 1:03 pm by Taylor Marsh
Well, this is very interesting. Jane Hamsher writes about Tascher’s roll in trying to severely alter legislation that would allow judges to work mortgages so people can stay in their homes. Then she gets a call from Tausher’s press secretary saying that she “was not working on this issue, nor was Tauscher taking the lead”:
“It shows we have bench strength, and it shows we can flex,” said California Rep. Ellen O. Tauscher, who chairs the New Democrat Coalition and played a central role in negotiations over the bankruptcy bill.
Sounds to me like Rep. Tauscher is caught between the truth and a talking point.
FDL has a petition up demanding that Speaker Pelosi stand up to bank lobbyists.
Seems to me that helping homeowners avert foreclosure would be in the best interest of every Democrat. But maybe I’m missing something. I’m sure Ms. Tauscher can explain it.
I’m just watching this dialogue from the sidelines. I’m a renter. I must be a small percentage of America who did not find homeownership the way to wealth. I got burned once, big-time. That was enough. I’ll invest elsewhere, thank you very much.
But the issue is real. The plan allows those who clearly took a huge risk, against all normal caution, and are about to be rewarded. The problem is that those who followed a more prudent path, bought houses they could afford, kept up on their mortgage, and now are STILL underwater due to conditions, will end up not being rewarded for their foresight.
Now, we can either take the path that ownership holds no risk, and the government owes you a bailout or not. Or we can choose the path that says, your neighbor’s stupidity is hurting you, so it will help you in the long-run if we give them a break and not you.
Mind you, this goes deep. Even your taxes are based on your home value.
Those who get this break will also get the tax break. You who have paid the mortgage and eaten macaroni and cheese to do it…..outta luck.
So the Blue Dawgs are bringing up the pertinent issues about this poorly formulated mortgage bailout plan.
And it is that.
The criticisms are obvious and need to be raised. To expect people to agree that this person gets this type of windfall while the other one doesn’t……was always absurd.
That really does bring up the issue about the demise of a free market.
I have always thought that unfettered capitalism based on american consummerism was unsustainable. I don’t pretend to know enough about economics to be able to judge the things that are being tried right now.
What is becoming increasingly clear to me is that our politcal class does not know enough either and the media should do themselves and us all a favor by trying to learn a little.
I was out of town over the weekend. In Atlanta in the snow! Better weather in Missouri…go figure. Anyway,I caught up on the Sunday shows last night. I did not hear a Republican who sounded like they had a clue and the so called “liberal media” who were interviewing them didn’t either.No follow up questions when someone made a competely false statement.
As for Thauscher if she is lining up with the bank’s interests against people in trouble we know where she stands, I hope her voters reaize that too.The people in upsidedown morgages are not all fools or irreponsible,I’m getting tired of people trying to characterize them that way. Some of them just trusted people who were supposed to know something too much.
The way I understand it is if anyone falls behind they can go to their mortgage holder and get them to rewrite the mortgage so that the payments will be lower and the interest lower, so it doesn’t just help people that went way over their heads and bought houses they couldn’t afford.
But AnninCA anything the admin does you will criticize so i don’t take much stock in what you say.
That is so true LL. And a lot of people took the loans where they paid the interest only until they could afford the whole thing. Then discovered that they were in trouble because of it. But AnninCA is her usual drive by and make comments she knows are ridiculous.
Hey Ann, how many times have you bailed out your neighbors? These are extraordinary times. Remember when unrequested credit cards arrived in the mail? Yeah, well, same with the mortgage situation. We all thought our jobs and salaries were secure.
O.K. fine, pat yourself on the back, and we applaud you for making the smartest financial decisions while we didn’t. But why is it so hard to help those whose children stand to suffer the most? Besides, what’s it gonna take from your pocket book if you do?
Nobody’s asking you to break your piggy bank. Let the government lend a hand, and don’t expect something in return if you really don’t need it. Can you, for once, be unselfish and not bitch about it?
HEY!!!!! Don’t go expecting AnninCa to go against her hunkahunka burning love ol limpwithnoballs!!!
To translate AnninCa’s last post…I GOT MINE,SCREW YOU!!!
Which seems to be the real mantra of the repugnantklan royalty. The part I will never understand is all the morons who are dirt poor and support them. OK, OK, I get the racist and facist subtext of the repugs appealing to them, but when they are insuring their OWN continuing on the bottom rung?
Oh you guys aren’t very good at this job of crystal ball gazing through the internet.
My personal story is irrelevant.
But I will share……I rent.
I have my story, and it involves an earthquake market and a divorce and a whole bunch of real money lost. But that’s not the point of my post.
The issues….people…..stick to the issues, you’ll fare better in credibility.