TUESDAY's DEBATE AT BELMONT

[crazybabyborg]

Here is a link to submit questions:

http://www.readwriteweb.com/archives/mydebatesorg_myspace_gets_political.php#113007

[crazybabyborg]

The debate is about to start, get the popcorn, Monkeys!

[nonesuche]

Did you submit a question CBB?

[crazybabyborg]

Did you submit a question CBB?

Yes, but it wasn't asked. How about you, Nonesy? What's your take on what we saw tonight?

[caesu]

polls show McCain lost.

i think it was a tie.

but McCain should have done much better. because he is more behind in the polls.
and Town Hall debate was supposedly his strength.

and what about that 300b mortgage rescue plan?
is he trying to out-liberal/socialist Obama?
it was already in the 700b rescue plan anyway.

McCain calling Obama 'that one', was very disrespectful.
couldn't he remember his name or was it on purpose derogatory - borderline racist.
if so, i don't understand why McCain does this.
people why like this language wouldn't vote for Obama anyway - so he isn't winning voters with such behavior.
to the contrary - undecided, independents are less likely to vote for such a bitter, negative man.

[crazybabyborg]

Put this one in the record book. I agree with you caesu. McCain needed to do better. I'm really frustrated with his campaign. I do believe with all my heart he is a better choice for this country and I will vote for him, but I'm disappointed with his campaign.

Bill Bennett said it best last night when he said, "I've known this man a long time, and I love him. He is such a man of honor, and when he says he puts this country first, they aren't just words. The campaign that has been managed on his behalf is not worthy of who this man is, and it hasn't been from the beginning."

My understanding............and that is subject to change since I have not seen all the details, is that the housing thing he mentioned works like this:

There are 2 pillars that have cracked that are largely responsible for our financial crisis. Foremost is the housing market, the other is oil prices and energy.
There's a glut of houses for sale nationwide, and a lot of mortgages that are being paid late, or not at all, and are in danger of default and foreclosure. Those additional houses on the market would make home values continue to fall which further damage the market by increasing the number of homeowners who will have mortgage debt bigger than the value of their homes. It's a downward spiral that keeps cycling.

The idea that the vulnerable mortgages should be renegotiated to reflect current house value, and payments extended, where needed, so that monthly payments are matched to actual income, really do secure people in their homes, keep additional houses off the market, stablize home values for everyone, and puts the punitive burden for bad loans where it belongs: on the banks that made them. That last part (on the banks that made them), occurs only if included in the plan is bank responsibility. The 700 Billion Bailout is to be distributed at the discreation of the Traesury, and it is expected that banks would recieve the money to shore up their viability. I think that was what McCain was proposing. However, even if you take out the bank scenarios in the plan, the objectives mentioned to the housing market would still be addressed if 300 billion of the 700 billion were spent to purchase the bad mortgages and the renegotiating was with the government.

We'll see. The plan has merit, in my opinion, but the devil's in the details.
EDIT FOLLOWS:

WOOPS! I just heard McCain say that the government would purchase the mortgages directly from the homeowners. Hmmmm. OK, my next question would be, will they purchase it with money from the 700 Billion?

Stay tuned! 

[crazybabyborg]

This is one to watch. If the government purchases directly from homeowners, that means the purchase is directly from the bank essentially, since the bank holds the mortgage. That would still allow opportunity for leverage, IMO, if the bank is a recipient of some of the bailout. I'm not sure how this is supposed to work, but I do see the market advantages. I'm just watching it with the rest of you guys.

[Slogger]

(comments added in red)

polls show McCain lost.

i think it was a tie.

but McCain should have done much better. because he is more behind in the polls.
and Town Hall debate was supposedly his strength.

I believe it was close, but it depends on the ruler you use to measure.  McCain has been working steadily throughout, has been staying with his important points of reliability and strength/honor/character, etc.

Obama was in his usual charismatic form, a good speaker.



and what about that 300b mortgage rescue plan?
is he trying to out-liberal/socialist Obama?
it was already in the 700b rescue plan anyway.

I think he has a plan, and part of it is to reveal gradually over the next 26 days.  IMO, mortgage rescue was not covered specifically.

McCain calling Obama 'that one', was very disrespectful.
couldn't he remember his name or was it on purpose derogatory - borderline racist.

When all else fails, get out the "race card."  Well, respect is earned based on character and deeds.  You earn it.  You work for it; and, it doesn't just appear at any particular age.  Couldn't remember Obama's name? . . . I think not.  It may have been a lack of respect, and might be a feeling that Obama hasn't earned it.  Just my opinion.


if so, i don't understand why McCain does this.
people why like this language wouldn't vote for Obama anyway - so he isn't winning voters with such behavior.
to the contrary - undecided, independents are less likely to vote for such a bitter, negative man.

McCain is out there, telling it "straight" . . . the way he feels.  What opponents see as negative, may be truth.

I'm looking forward to a "MAC ATTACK."

[crazybabyborg]

Just heard a question put to Paulson that indicated McCain's housing plan indeed does intend to use part of the 700 billion bailout, not a new 300 Billion. For whatever it's worth, at this point, that's the best info I have right now.