Clinton proposes Greenspan lead foreclosure group

News Type: Event — Seeded on Mon Mar 24, 2008 9:34 AM EDT

Article Source: Reuters

business, hillary-clinton, alan-greenspan, foreclosure-group

Former Federal Reserve Chairman Alan Greenspan and other economic experts should determine whether the U.S. government needs to buy up homes to stem the country's housing crisis, Democratic presidential candidate Hillary Clinton will propose on Monday.

Clinton, a senator from New York, said the Federal Housing Administration should "stand ready" to buy, restructure and resell failed mortgages to strengthen the ailing U.S. economy.

"Just as it has in the past, this kind of temporary measure by the government could give our economy the boost it needs and families the help they need," Clinton will say, according to excerpts of a speech she will give in Philadelphia.

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{"commentId":1613452,"authorDomain":"greenpagan"}

greenpagan

Good idea, but...Greenspan...? !!!

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{"commentId":1613452,"threadId":"239191","contentId":"1386637","authorDomain":"greenpagan"}

1 vote

#1 - Mon Mar 24, 2008 9:36 AM EDT

{"commentId":1613655,"authorDomain":"mpellerin5108"}

Mona Pellerin

Who will be able to buy the reduced priced homes now in the hands of the federal government? How will this help the homeowners going into foreclosure? So far the Feds have done the taxpayors no favors - so how will this be different?

{"commentId":1613655,"threadId":"239191","contentId":"1386637","authorDomain":"mpellerin5108"}

#2 - Mon Mar 24, 2008 10:34 AM EDT

{"commentId":1614021,"authorDomain":"greenpagan"}

greenpagan

How about free housing for everybody?

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{"commentId":1614021,"threadId":"239191","contentId":"1386637","authorDomain":"greenpagan"}

1 vote

#2.1 - Mon Mar 24, 2008 12:21 PM EDT

{"commentId":1616493,"authorDomain":"mpellerin5108"}

Mona Pellerin

greenpagan,
I am sure you are being facetious - but, how about allowing those who have lost their homes to be included in the purchase options. I guess I am concerned about a "carpetbagger" effect where the wealthy buy-up the homes at fire sales, hold-on to them until the market returns and reselling them for profits. While this looks like good business and will put some money back into the economy, it is a form of injustice. We need to not only stimulate the economy, we need to boost the moral of the taxpayor so we can regain trust in our system.

{"commentId":1616493,"threadId":"239191","contentId":"1386637","authorDomain":"mpellerin5108"}

#3 - Mon Mar 24, 2008 11:37 PM EDT

{"commentId":1616838,"authorDomain":"greenpagan"}

greenpagan

I guess I am concerned about a "carpetbagger" effect where the wealthy buy-up the homes at fire sales, hold-on to them until the market returns and reselling them for profits.

That's happening now, as yesterday's homesale data attests.

And, no, I was not being facetious. I consider food clothing shelter fuel healthcare education work-with-dignity etc. birthrights.

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{"commentId":1616838,"threadId":"239191","contentId":"1386637","authorDomain":"greenpagan"}

1 vote

#3.1 - Tue Mar 25, 2008 2:02 AM EDT

{"commentId":1619387,"authorDomain":"mpellerin5108"}

Mona Pellerin

I agree we should all be able to meet subsistence and then the pursuit of our individual potentialities and dreams. I do think healthcare should be universal and offered through business or government. We pay enough taxes for that. However, I do think it is mandatory for those who can to work, as work is the best form of personal development and behavorial control. Some of our problems now stem from too many conveniences eliminating physical activity and adding pounds to the body.

As an ideology - no child should go hungry and all should have access to a quality education. If too many things are free, we do not take ownership in our communities and therefore, we become victims rather than be pro-active in our lives. Skill devopment is a source of self-fulfillment and adds to our personal sense of worth.

{"commentId":1619387,"threadId":"239191","contentId":"1386637","authorDomain":"mpellerin5108"}

#4 - Tue Mar 25, 2008 6:04 PM EDT

{"canLink":false,"threadId":"239191","isPrivate":false}

GREENPAGAN

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Clinton proposes Greenspan lead foreclosure group

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