The Virginian-Pilot
©
MANASSAS
Bringing her presidential campaign to a community hard hit by the national slump in home sales and an alarming increase in foreclosures, New York Sen. Hillary Rodham Clinton underscored her support Sunday for a 90-day moratorium on new foreclosures.
The break would “help people work out a way to pay and stay in their homes,” she said.
Clinton said millions of people across the country “have lost their homes and millions more will,” unless Congress and the next president stop predatory loan practices that lured some homeowners into escalating mortgages they can’t afford.
She warned more than a year ago that some mortgage brokers are selling loans that “are setting people up for failure.”
Clinton’s afternoon stop at a middle school gymnasium lured an overflow crowd of more than 800, just two days before primaries in Virginia, Maryland and Washington, D.C. that could prove pivotal in her bid for the Democratic presidential nomination.
She used the forum to stress economic, educational and security issues and to hammer home her case that she is better prepared than rival Barack Obama to take on what she called the toughest set of challenges to face any president since Harry Truman took office in 1945.
Clinton’s appearance took place just a few miles from the Virginia epicenter of debate over one of those problems: a massive influx of illegal immigrants. But Clinton made no mention of national or local controversies over the issue and the subject did not come up in the half-dozen questions she invited after her 30-minute speech.
Supervisors in Prince William County, which surrounds Manassas, last summer passed some of the nation’s toughest restrictions on providing public services to illegal immigrants. An emotional debate on the issue attracted national attention.
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Low Interest rates
folks, Clinton's regime had to lower interest rates because it was the only way to prevent the recession that became painfully obvious at the end of clinton's presidency. When purchasing is down, and the economy slows, lowering interest rates is the normal path to recovery, then the economy is running well and people are spending more, the interest rates go up to prevent inflation.
How did Clinton trigger low
How did Clinton trigger low interest rates? The executive branch should not have anything to do with interest rates. Respect in the world. We haven't had respect around the world since WWII. Clinton bought "respect" through foreign aid and the Lord knows what else. The Bush admin. was slightly consumed with the 911 attacks eight months into the presidency. As I stated before I am not a Bush fan but he has had quite a lot on his plate: pilots held captive in China, 911 attacks, Katrina, Afganistan, Iraq, N. Korea, oil prices, Sudan, etc. Tough job, I wouldn't want it.
Really?
"The only people that prospered during the Clinton admin. were the lawyers in D.C. Put down the Kool-Aid my friend"
Um, I was alive and in business during those years. Whether it was management or just sheer confidence, we all appeared happier and more successful. Clinton triggered the lower interest rates that made the American dream more easily attainable. The was a marked change from Bush1 to Clinton. The world respected us. There was an actual attempt for the budget to be run within it's means. I understand that the dotcom run had a large impact on finance but that extended into Bush's run as well. Bush took a good situation and just let it run out. He was so distracted it seems those of us at home were forgotten about.
Party? Seriously? Those who tout "Kool-Aid" have lost all credibility. The man who coined that phrase has lost all credibility. You do understand that we can all see you all are wearing no clothes? We are laughing at you. We prod you to affect your blood pressure. AS far as Mr. Clinton's behaivor with a certain intern, I would offer to stock the White House with strippers if I could change this countries course. I don't care about intentions, I need resul
Do you people not get it ????
The ones responsible for this mess are the ones who are still profitting from it and only make changes to improve their bottom line. When the dust settles they will be on a higher pile of dough while we all cry and complain because we can't afford to send our kids to college... War on the middle class has already been won. Wake up.
I am by no means a Bush
I am by no means a Bush admin. fan, but the Administration had nothing to do with the current housing market issues. The banks themselves and backers like Fannie, Freddie, HUD, etc. loosened the lending guidelines. Lenders, especially two-bit mortgage brokers, pretty much could lend no matter what the buyer's/borrower's issues were. As for the so-called Clinton "prosperity" did you forget that for six of his eight years of partying that the House (where spending bills originate) was controlled by Congress. The only people that prospered during the Clinton admin. were the lawyers in D.C. Put down the Kool-Aid my friend.
Spin, spin, spin...
If I offer you $100 dollars and tell you to pay me $1 a week, but that rate will go up after the first year to $3 a week, but still only $1 will go off towards what you owe me until it is paid back, will you take the $100 ? Either ppl that took the adj. rate loans didn't understand or were not smart enough to ask questions. So, the gov't should step in for them at the cost to us? I don't think so.
But do vote for Clinton tomorrow, hopefully she'll win in Virginia, then vote differently in National Election, just to throw a wrench in the works....
So many of you are full of...
Don, you are not included in the title. I just wanted to point out to you that it would be better than if those investments fail. More foreclosures will not help any of us. Yes, both the mortgage companies and idiotic homeowners are to blame here, but here we are. The mortgage companies, especially the brokers need to be reined n. People place their trust in them only to get screwed in the end. The realtors are right there with them. For all of you proclaim Hillary C to be a socialist you may want to note that Bush has made similiar offers. You may also want to note that the problems ALL occured during his presidency, at his direction. President Clinton presided over one of the largest economic expansions in history.
Why should WE pay?
Just another way to get folks who have lived within their means to pay for those who haven't. More than once or twice, I've seen folks in their mini-mansions and wondered how on earth they could afford it. Truth is, they couldn't afford it and now the rest of us will pay for their greed and the greed of everyone else in the real estate and mortgage business. Woe unto us if Hillary is elected.
Did she also call for
a moratorium on the pension payments to seniors, widows and orphans that those mortgage investments provide?
Adjustable Rate Mortgages should be outlawed
The simple solution to problem is to outlaw adjustable rate mortgages.