Obama opens Texas campaign with housing talk

It is only natural to begin to question something after you hear it constantly (see Roger Celmens). Obama makes a point to discredit Clinton's plans for fixing the mortgage crisis. I was disappointed not to see Obama's plan to fix it. I am favorable to Obama right now, but it is time to see some substance through the fog.
I don't know if it is the blog editor's choice or if Obama didn't offer any "solution". Just wondering without slinging mud.

Go Obama!

Texans, for once, you can do the right thing by not being your normal under-educated, simple minded selves. Go and vote for Hillary ! Go!

Um... Wheres the beef?

This might not have covered it, but he provided no plan of his own... just promises of a "plan" different than Hillary's.

What are you Obama voters voting for again???

B --- WOW!!! Are you ever the typical pretentious, haughty, & condescending liberal?!?

The mortgage crisis, the credit card crisis???

Geeeez, when will you libs learn to read a contract before signing it!

Paulo

If you vote for Hillary it will turn out to be one of those things that you will look back later in life and regret doing.

Protect Homeownership and Crack Down on Mortgage Fraud

Obama will crack down on fraudulent brokers and lenders. He will also make sure homebuyers have honest and complete information about their mortgage options, and he will give a tax credit to all middle-class homeowners.

* Create a Universal Mortgage Credit: Obama will create a 10 percent universal mortgage credit to provide homeowners who do not itemize tax relief. This credit will provide an average of $500 to 10 million homeowners, the majority of whom earn less than $50,000 per year.

* Ensure More Accountability in the Subprime Mortgage Industry: Obama has been closely monitoring the subprime mortgage situation for years, and introduced comprehensive legislation over a year ago to fight mortgage fraud and protect consumers against abusive lending practices. Obama's STOP FRAUD Act provides the first federal definition of mortgage fraud, increases funding for federal and state law enforcement programs, creates new criminal penalties for mortgage professionals found guilty of fraud, and requires industry insiders to report suspicious activity.

* Mandate Accurate Loan Disclosure: Obama will create a Homeowner Obligation Made Explicit (HOME) score, which will provide potential borrowers with a simplified, standardized borrower metric (similar to APR) for home mortgages. The HOME score will allow individuals to easily compare various mortgage products and understand the full cost of the loan.

* Create Fund to Help Homeowners Avoid Foreclosures: Obama will create a fund to help people refinance their mortgages and provide comprehensive supports to innocent homeowners. The fund will be partially paid for by Obama's increased penalties on lenders who act irresponsibly and commit fraud.

* Close Bankruptcy Loophole for Mortgage Companies: Obama will work to eliminate the provision that prevents bankruptcy courts from modifying an individual's mortgage payments. Obama believes that the subprime mortgage industry, which has engaged in dangerous and sometimes unscrupulous business practices, should not be shielded by outdated federal law.

I'm not sure if this is an AP article, but it certainly doesn't say much. The basic difference between Obama and Clinton on this issue is that Clinton wants to freeze foreclosures. This sounds nice, but if lenders can't get bad loans addressed, you and I will pay much higher interest rates to make up for the banks' losses. Bad move.

Obama wants to punish fraudulent lenders who cheated people, not all banks who made bad loans in the course of business. Obama introduced Senate Bill 2280 - the STOP FRAUD Act -to set up this process...please read:

The following summary is provided by the Congressional Research Service, which is a nonpartisan government entity that serves Congress and is run by the Library of Congress. The summary is taken from the official website THOMAS.

Introduced.
Stopping Transactions which Operate to Promote Fraud, Risk, and Underdevelopment Act or the STOP FRAUD Act - Amends federal criminal law to make it unlawful for any mortgage professional (as defined by this Act) to execute, or attempt to execute, a scheme or artifice to: (1) defraud any natural person or financial institution in connection with the offer of consumer credit secured by an interest in real property, or in personal property used or expected to be used as a principal dwelling; or (2) falsely obtain any money or property from a natural person in connection with an extension of consumer credit secured by an interest in real property, or in personal property used or expected to be used as the principal dwelling of such natural person.
Provides for: (1) fines and/or imprisonment for violations of such provisions; and (2) a private right of action.
Includes within the definition of "financial institution" for specified federal monetary transaction provisions the Federal National Mortgage Association (Fannie Mae), the Government National Mortgage Association (Ginnie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), mortgage appraisers, real estate accountants, real estate attorneys, real estate brokers, mortgage underwriters, mortgage processors, mortgage settlement and title companies, mortgage brokers, mortgage loan originators, and any other mortgage professional engaged in the mortgage industry.
Amends the Housing and Urban Development Act of 1968 to authorize the Secretary of Housing and Urban Development to provide tenants, homeowners, and other consumers with mortgage fraud counseling.

So, in my mind, the "all talk, no action" criticism about Obama is false, and he's got my vote.

Hi Todd M - fair question. The press doesn't often cover the details. Below is a link to Obama's website outlining his position on the housing (mortgage) crisis. I've also put some of the text of a speech he gave yesterday.

http://www.barackobama.com/issues/economy/#home-ownership

"For those Americans who are facing the brunt of the housing crisis, I've proposed a fund that would provide direct relief to victims of mortgage fraud. We'd also help those who are facing closure refinance their mortgages so they can stay in their homes. And I'd provide struggling homeowners relief by offering a tax credit to low- and middle-income Americans that would cover ten percent of their mortgage interest payment every year.

To make sure that folks aren't tricked into purchasing loans they can't afford, I've proposed tough new penalties for those who commit mortgage fraud, and a Home Score system that would allow consumers to compare various mortgage products so that they can find out whether or not they'll be able to afford the payments ahead of time."

Wow, B....Leave it to a Hillary supporter to make a back-handed compliment to Texans like the one above! This Obama supporter trusts that there are plenty of Texans paying attention and who won't be fooled by the usual political games of the Clinton campaign. And I won't stoop to calling the above commenter under-educated or simple-minded but just uninformed. Enough said....

Obama does not have nearly the amount of experience needed to run this country. At least Hillary has lots of experience. Find out more at www.trueobamafacts.com

B,
Are saying that under-educated, simple minded people vote for Obama?????

How can you even argue such a thing when current polls show that educated people with college degree (and higher) are voting for Obama!!!

so, Brain Up B and vote smart..... VOTE OBAMA!

Barack will deal with the subprime mortgage mess more effectively than Billary.

Hillary is desperate.

McCain is just plain INSANE.

TEXAS FOR OBAMA!!

With latest polls at a dead heat in Texas, this seems like it might turn out good for Obama. Hillary has been campaigning in Texas for several days; Obama just started today. I bet he'll get a lot more support in this coming week, just like he has been doing in every other state.

trying to find out where and what time will barack obama be in houston

Wow B, to call Texans simple minded and under-educated, and then suggest they go and vote Hillary!?? Yes, that the way to motivate. Insult then give an order. Wow, no wonder Obama is making such strides despite all that Clinton has thrown at him.

Housing? Maybe he can help Tony Rezko get the funding to build some shoddy public housing down in Texas, too!

Obama rhetoric is full of hot air. He will not face off on a real debate with Senator Clinton; rather Obama has been hiding behind the race card during the last debate sound off. We better start seeing some substance from this guy soon. I am beginning to think he is all smokes and mirror.

This is another good judgment call from Obama -- Right on target with the solution to address the housing crisis. I think from now on I would vote for a president with a better judgment. That may explain the reason that Obama did not vote for the Iraq war.
Again good judgment is the key; NOT lots of experience. Again and again if experience was the sole value, the Bush government would have been the best in the history of America

(Eau)bama, you are the water that we as new generation need desperately. Go! O Go!

The polls just before Obama's arrival show 2 percent difference. One can imagine by how much he will lead when he meets the people.

Texas is for Obama!!!

Go Texas !! Prove your power.

Obama 08

Any voter relying on the "concept" that Clinton has more relevant experience than Obama should find a legitimate account comparing their accomplishments and read it. It may surprise them.

OBAMA 08!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
OBAMA 08!

B,
It seems like you're the one in need of education.The educated people vote for Obama, not for the Clintons.
Wise up!

Why don't you read about Obama's plan?
http://www.barackobama.com/issues/economy/#home-ownership

I used to support Hillary (and I still think Bill Clinton was one of America's best presidents), but will now vote for Obama (or, should he not be nominated, for McCain).

Its time for Democrats to wake up to the fact that they have a rare opportunity with Obama, and that a politician of this caliber is not found easily, and get on with it. For those who say he is a risk I say let's take the risk and the reward! (Oh, and by the way, Hillary is more of a risk come Novemeber).

Texans do your part and deliver an Obama vicotry!

Todd M.,

Please click on the link to view Barack Obama's plan: http://www.barackobama.com/pdf/ObamaBlueprintForChange.pdf

Here you go Todd M.
http://www.barackobama.com/pdf/MortgageFactSheet.pdf

How come not one reporter will ask Obama why his headqaurters in Texas has a flag of Che Guverra hanging for everyone to see. Is he a supporter of terrorists and murderes such as Che and Castro?

Todd M:

Obama's economic plan: http://www.barackobama.com/issues/economy/.

The notion that Obama has no substance is silly. If Hillary could give better speeches, should would taking his approach too. Instead she takes the Rove attack method by going after his strength/her weakness.

Obama's policy proposals are nearly identical but more complete than Hillary's on almost every issue -- except social security which is not even listed on her website's issues.

For the record, this Ohioan doesn't hold anything against Texans...especially those voting in the Democratic primary!

Todd, see Senate Bill 2280 introduced by Senator Obama...called the STOP FRAUD Act.

Vinny:

That picture has already been debunked as a fraud. It was not at Obama's headquarters.

Just keep on drinking all that right-wing nutjob kool-aid Drudge and the rest supply to you.

Todd M, If you want to see something tangible and very detailed about his plan go to BarackObama.com. I'm tired of people saying Obama is all words and no beef. The beef is at http://www.barackobama.com located on the issues tab.
I understand it may be hard for high school educated voters to distinguish beef from fluff in his speeches. I guess thats why he does better with college educated voters......

Obama doesn't support Hillary's "freeze" plan, and commented that it "would reward the people who made this problem worse". He can't be talking about "rewarding" the banks, as a rate freeze would lower their expected returns, so he must be talking about the borrowers. What I can't believe is that a liberal is actually saying there is personal responsibility involved for those who took out loans they couldn't afford. It is far easier to blame the govt., banks, etc., than to look in the mirror and take personal responsibility for your own actions.

It's hard to believe that for almost 8 years this country has listened to a president who did not and still does not have a clue; and now we expect Barack Obama or Hillary Clinton (Democrats) to fix all of George Bush mistakes (I don’t think so). I sincerely believe that Bill Clinton did a great job cleaning up the disaster that George “daddy” Bush left as a president; however, now I believe it's time for REAL CHANGE which is not represented by electing Bill and Hillary Clinton again. This country needs a fresh viewpoint on all the issues of what concerns every American. It is my belief that Barack Obama has that viewpoint and should be elected the next president of these United States of America.

Let's quit with the over-the-top praise of Obama. The reality of the matter is that his stance on various issues does not differ from Senator Clinton's. His campaign has become a contest of eloquence over actual substance. No doubt he has the upper hand in delivering a speech, even if at times he borrows from other eloquent speakers and only admits to the plagiarism after being caught (i.e Deval Patrick, Gov. of Mass.) One would think that the honorable way to borrow for a speech would be to say, "let me use the words of Deval Patrick...." But no, he wanted his listeners to continue to think that his rhetorical skills were equal to his ego. A man who does not acknowledge the skills of others in order to further himself leaves one to wonder what else is there in his oratory or professional repetoire that needs investigating or clarification.

Moreover, the following is an excerpt from NEWSWEEK:
"In January 2007, the Washington Post analyzed Clinton's and Obama's voting records. During the two years that they overlapped in the Senate, they voted differently just 40 times – out of 645 votes. That works out to 93.8 percent agreement. And in at least a few instances, the two agreed on the issue but voted differently because one favored a stronger version of the bill.

Interest groups score the two identically, or nearly so. In 2006 the AFL-CIO gave both of them a 93 percent pro-labor vote rating, and the liberal Americans for Democratic Action gave each a 95 percent score. The American Conservative Union gave each an 8 percent rating. The U.S. Chamber of Commerce gave Clinton a somewhat higher pro-business score, 67 percent, than it gave to Obama, who received a 55 percent score.

The news organization Congressional Quarterly scored Obama's party unity record (that is, the extent to which he voted with Democrats on votes in which majorities of each party took opposite sides) at 97 percent in 2005 and 98 percent in 2006. Clinton's scores: 96 in 2005 and 93 in 2006. Similarly, CQ found that Clinton supported President Bush's position 50 percent of the time in 2006, while Obama supported Bush 49 percent of the time that year.

The simple fact is, Clinton and Obama champion similar policies and have nearly identical voting records. There are real differences between the two, but by accusing each other of crypto-Republicanism, Clinton and Obama are writing scripts for The Theater of the Absurd."*

*http://www.newsweek.com/id/103203/output/print

The republicans will leak the 120 "missing" Barrett Report pages of clinton fraud, crimes and collusion to decimate the entire clinton machine along with any chance for a 3rd return to the White House. " A GOP ace in the hole"
http://www.washingtontimes.com/apps/pbcs.dll/article?AID=/20080124/EDITO...

Hillary speaks of vast experience, I would like to know where I can find a list of her accomplishments during her co-presidency, what meetings she chaired, what policies she wrote, etc. Also, what is this about her being for Barry Goldwater (Rep)?

Also, what is this about her being for Barry Goldwater (Rep)?

If you bothered to read her autobiography, "Living History", she explains that she started as a Young Republican because her parents were, but in college due to the influence of professors and Bill, she changed her views on society and the government's obligation to its constituents and became a Democrat, and has been a stalwart one ever since.

Read the book.

Before the new presidency, we must stop any new AMNESTY

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