John Boehner: Time For Government To Stop Helping Homeowners

"None of these programs have worked. I don't know why anyone would think that this next idea is going to work," Boehner continued. "All it does is delay the clearing of the market. As soon as the market clears and we understand where the prices really are -- [that] will be the most important thing we can do in order to improve home values around the country."



Bonehead is actually right. Had we bailed out the homeowners at the beginning of this crisis rather than the banks, the market would have been cleared out. The bad banks would be gone, their CEOs and investment officers in jail, and the economy restored by now. The nation would be richer, because the PEOPLE would hold the mortgages to those properties­, and if the homeowners could not pay off the new mortgages then the property would go to the state which would in turn sell tose properties and recover the money invested to start with.



Instead we drone on with banks still foreclosin­g on homeowners that are under water and never will be able to sell those houses to pay the mortgage off, nor will the banks once they take possession­. RIPublican­s forced this option under TARP, pre-Obama, and have made every effort to prevent real resolution to the housing crisis, off shoring of jobs and China's most favored nation trading status.
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