CNN

hows this for a plan americans. let the government jerk our rights right out from underneeth our wonderful nation. it doesn't matter if your republican or democrat its all comming crashing down. the only way to solve this iriversible problem now is to unite with all the other countries of the world, (who care nothing about our constitution and our rights by the way) and have a one world government. which is exactly wut our elected officials want. thats why we borrow from these countries so we are enslaved to them. so much for our wonderful nation under GOD! we are chaseing Him away. lets ask forgiveness and put Him back were he belongs. (and i don't mean unite church and state).

I have seen these same identical responses somewhere. Where was it...? Oh, I rember now. When Clinton took office and gave his economic recovery plan. Yeah, we were in a reccession then. Wierd, people said the same disgruntled song. I believe we were showing a surplus when he left office too. Odd how history repeats itself. Calling their President idiots never did have a positive effect either. If you think you can do better, throw your hat in the ring or quit crying. Sound like children wanting things but doing nothing to earn it. Find a crying towel and get over it.

I would go for give my money alone ( no taxes) I will manage my paycheck....(like many are saying on these blogs) I also hear a lot.....I have bought my small house in between my meanings.......the problem is that the economic mess is soo deep....,many could lost their job (no pay check period to manage) you will be screaming for help as well....ahhh to whom you will turn for help? your republican buddy?......not.....the government of course.....so stop been selfish and think about others misery.

Karen. Hole in the gound H O L E.
Karens whole world is crashing down on her W H O L E.

You are banished and no longe get to post. Go back to MSNBC.

hey losser .......you sound like a your a wall street bafoon....
get real and please cnn only acknowledge people that make sense...
and yes we need help now.. and I'm not on welfare yet!

Andy J, Upstate NY
GET YOUR HANDS OUT OF MY POCKET AND LEAVE MY PAYCHECK ALONE. I WORK HARD FOR MY MONEY AND I'LL GIVE IT TO THOSE I SEE FIT. IT SURELY WON'T BE DEADBEAT WELFARE ABUSERS WHO DONT WANT TO HELP THEMSELVES

MORE MONEY TAKEN FROM SMART HARD-WORKING TAXPAYERS AND GIVEN TO IRRESPONSIBLE PEOPLE.

Just wondering...did the Republicans have a plan? Notice that Ms. Blair said it should have happened "a long time ago." Like MONTHS ago, Mr. Bush, when you were sitting in the Oval office doing nothing! Just imagine how much grief you could have saved...similiar to the grief of all those brave men and women who died in your illegal war. Yes, I blame the Bush administration (or lack thereof) for both of these problems and SO WILL HISTORY!

Wow. Very well written, Karen. You write about as eloquently as your thoughts are lucid. "Pushing a stimulus" and "putting in a bailout" are hardly a measure of success, no more than jumping off a building is proof of flight. Lets see how these plans turn out down the road before you go declaring victory that our President has done anything at all.

This partisan nonsense is why our country is where it is politically. The Obama supporters - without ANY detailed knowledge whatsoever of what he is trying to do - will blindly cheer and defend his policies to the death. Granted, the haters on the other side will likely prematurely condemn him similarly.

I find the support comments more comical than anything out there today. "GO OBAMA LOLOLOL DUMM REPUBS!! LOLOL." Bravo.

They also need to address the issue of bringing homse back up to the price they were purchased at – people are paying for homes that were bought at a cerarin price and are paying on that loan but their home is no longer the same price – it is much, much lower. Should all just stop paying and let our homes go into foreclosure in order to get justice.

First of all, the market is falling mainly because those idiots realize there free rides and over paid lifes are over. 2nd, while i agree that the welfare system needs to be revamped i.e. in order to qualify for benfits, u need to be working, some of you are idiots and greedy losers. I dont like paying for bums to suck on the welfare nipple but untill the goverment steps in and changes things, it will ALWAYS be this way. Now to those that think spending your "hard earned" money, dont you realize that spending money is how the economy works. Theres no economy if you dont spend money, that simple. So please, go back to eating your bowl of stupid flakes! And for those that want a reward since u were smart enough to stay in your means when u bought your house, your reward is...KEEPING YOUR HOUSE MORON!

I really want to thank Barrack Obama! I bought a house with no money down that I couldn't afford and didn't have the credit to get, and is now in foreclosure. But I get to keep my house because Obama is taking the money from hard working Americans and making my rates and payments a lot lower.

I'm so glad I get to live in a country that rewards failure and punishes success! Thanks Barrack!

@ the idiot.. You are a idiot... we are already in the whole (trillions I might add, and this was the direct result of the Republicans. Republicans still don't get it.

This man has been President for 3 weeks and look at what he's doing. He's kicking butt and taking names unlike the Republicans who sat on their hands for 8 years. Let's see my President has push a stimulus plan, sign to shut down that touture chamber, putting in a bailout for housing, not to mentioned taking his fight directly to the American people who hired him. Republicans still don't get it but they will in 2010. Let's vote to kick the rest of the Republicans out of Congress so we can turn this country around.

Thank God Obama – and anyone on his staff – don't have to worry about paying taxes! Maybe if they did, they'd stop taking money FROM those of us actually out there trying to work! I mean, the way this is going, I'm going to quit my job, knock up the wife a few more times, and start going anywhere and everywhere I can with my hand out!

"Change" isn't always for the GOOD!

Memo: On Jan,20 09, we inaugurated a new President. The office is due respect, and it would be nice if CNN would show that respect by stop using OBAMA,BARAK,etc, and use instead PRESIDENT, OR PRESIDENT OBAMA. It is widespread and should be addressed. Even the political Ticker continues to do this.SHOW SOME RESPECT.I don't recall any newscaster ever refer to our past President as George or Bush.

Regarding the housing problem I belive that the every case is different, However don't forget that the economy will be better if every house owner if needed could lower the mortage payment , thus it will be more cash flow. Also it will compensate the property value that our homes have been lower due to the folcolosures in their neighborhoods . will this be extra cash flow? sonia

President Obama is trying to fix the mess, he did not create the mess nor is he just doing these things just because he can. Why don't some of you write a thank you letter to George Bush for the mess that he has gotten us into and a thank you letter to President Obama for trying to get us out of this mess!

How about we lay off all of congress...put agenda items to the vote of the people....this way we know what the people want vs politicians agenda.

It is really sad to me that a nation that was supposed to be so great at one time has created such idiots and self centered individuals. I know this is going to be over the heads of most of you. but it doesn't matter how responsible you have been or what ever happened in the past. "No man is an island unto himself". We are all going to be affected if the economy tanks or when under president Obama things improve. I know there are some states where people are not the brightest, but I didn't know there were so many of them. but at any rate, I hope we can see as many people admit they were wrong when President Obama and the democrats by the grace of God bring the nation up out of the ashes. Those of you who can will have much more success praying for the nation and the president than you will with all the evil vitriol.

The rich (most of them) didn't get rich by being lazy. They worked hard, they said no to crime and drugs, and they earned their positions atop companies and in fancy neighborhoods. Maybe they don't work hard now, but most of them got there honorably.

So why do we continue to punish the successful and the responsible over and over again to pave the way for rewarding the lazy and irresponsible and greedy? The foreclosed are the greedy here, not the rich. The foreclosed are the ones who spent outside their means and didn't budget. The stupid shouldn't get bailed out.

JAYE,

PLEASE GET YOUR FACTS STRAIGHT ON MCCAIN.

I am not a fan of the guy what so ever. Dont like him and dont agree with his politics. He is weak, very moderate, does not stop the illegals, is not politically conservative financially or socially. He really is an independent much like others outside the traditional parties.

Get the housing thing straight. He owns 10 houses. Many are rentals or investments. They are not mansions although he does have an estate. Most of the money comes from his wife who is quite rich.
Now bash Edwards who lives on an estate. Gore who lives on an estate. Barack who bought a house at 25 cents on the dollar from Tony Rezko a criminal.

Please do some research, use google and read the full articles.

Most of you people have no idea what it is like! I bought a reasonably priced homne four years ago, less than $150 K, my salary was (and is) greater than 70K. Early last year I transferred to a different state (from Ohio to CO) the forclosure was just starting and Ohio was pretty hard hit, when I called realtors they literally LAUGHED there was no way I could sell my house for even 60% of what was owed! I had put 20% down, I have made my payments every month on this house, the interest rate is at 6.5% but right now, because I owe more than the house is worth ALL my credit cards have jumped to 33% (I have not missed a payment but because my cost to income ratio is so bad right now they could raise my rates) I cannot buy a car (my mid 90s Jeep is dying slowly) my son lost his job ( a pilot) and, since I co signed for his education and car, I am having to pick up his bills. So I am paying for two houses (rent and a mortgage) my credit is terrible (due to house being worth more than I owe and my son missing payments on his bills) I am covering two households worth of bills, my car is dying and you people are saying that I HAVE DONE SOMETHING WRONG?!? That the problem is because of people like me?! HOW DARE YOU! My savings are GONE, I am looking at losing a house (that my daughter is living in because she cannot afford to rent one) and you people tell me that this is my fault? the facts are this is needed, not just for those who made bad choices but to the rest of us also since right now the loss in the value of the home by a fool is costing me. So by bailing him out they are helping me.

Idiots

When Bush was president, there was hardly ever a spending bill that he didn't like and sign. The one spending bill that he did threaten to veto was the Childrens Health Insurance Program. (S-CHIP: providing health insuranct to poor kids)
Why is it that republican can find the way means to fund wars and cut taxes for the rich, but they never want to invest in the American people? They never want to help people. They are the champions of the businessmen of America. They are always talking about them and the 'The People' come second or not at all.
Now we have an administration that has the desire to invest in the American people and our infrastructure and GOP is fighting it tooth and nail. We are in the midst of an emrgency and something needs to be done. The GOP has no alternative to the Dems plan and they still want to stop progress.

I can predict the future like Cleo the Psychic!

This is a losing move for conservatives and 2010 elections will prove this. If you thought they had a small minority in congress now, their numbers will be even fewer in 2010. They are killing themselves and don't even realize it

Thanks Obama, after all the spendulous bill, bailout etc. The rest of us working people will be left supporting every deadbeat in America.

There are people who have lived within their means and lost their jobs and in turn lost their homes. Good people. One thing affects another. If Obama is trying to help people then good for him. Stop trying to condemn the man and see what his plan is. With the way things are it could happen to any one of us at any time. We all need to pull together.

Dean in Florida – isn't $13 a paycheck enough? I'm surprised did you donate to the campaign and expect more in return for the donation?

Barney Frank and Chris Dodd both Democrats refused to stop Fannie Mae and Freddie Mac. They refused to change it. IT IS A FACT. Go On YOU TUBE and watch the CHICKEN LITTLE SKY IS FALLING video and statement by Barney Frank. He would not stop it.

This was a push to allow poor people to buy housing.
People with 540 credit scores were given 95 and 100% loans.

Now if you paid your mortgage you get nothing.
If you did not pay your mortgage you get money.
LET THE MARKET CORRECT ITSELF. STOP SPENDING.

When Bush treated our National Treasury like he was some kind of drunken teenager with dad's credit card, I never once heard the word "pork".

Now the second that we try to spend money in a different way, and hopefully a more constructive way, all I hear is the word "pork".

Well, I'll tell you something...

The fastest way to lose credibility in my household is to complain about "pork".

Kevin, it's spelled principAL. I like what Obama is doing: Sheila Bair is one of the few regulators who saw this crisis coming and tried to do something about it so I trust her plan. The only way to slow foreclosures is to reduce people's often-ridiculously-high payments. Banks should then have to take part of the hit on the principal reductions.

More Money More Money More Money.

President Bush 8 years. 2.5 Trillion added to the national debt.
President Clinton 8 years 1.7 Trillion added to the national debt.

Barack Obama 2 year estimate 350 billion (TARP) 800 Billion (Stimulus) 1 Trillion (banking) 50-100 billion (Mortgage) Nominal budget 2009 1 Trillion. Grand Total = 3.2 Trillion.

4 year estimate 6 Trillion in additional NATIONAL DEBT.

I WISH BILL CLINTON WAS HERE. At least he was not naive.

Next time there is an election, I will vote for the person who knows how to read. These idiots we have now don't know how to read, meaning they never read the stimulus bill.

Obama is "tight lipped" about the housing bill. He's given up on transparency already.

For those who say they live within there means and/or tired of supporting stupid or greedy people. Either you are morons or just out of touch with our current economy. It's easy to say you live within your means when you haven't been laid off(YET). You all listen to way too much right wing radio. Your party is dying a slow sure agonizing death. Everyone in this situation has his own story, take the time to get all the facts before posting your one way rhetoric...GET REAL!!!

when you and your wall-street neo-con buddies were stealing left and right

from the working men and women?

you thought your crimes against humanity would never catch up with you, eh?

Danny in Chicago are you for real??? Paid bloggers? Even CNN wouldn't stoop that low. Now, as for the typical, same as usual, Chicago political machine, why are you so upset about that? Its just business as usual, Chi-Town style! I don't give a crap about people's foreclosure – if you weren't so greedy to have purchased a home you couldn't afford in the first place, I sure as hell so understand why I have to bail you out! I'm sick of my tax $$ going to handouts!

There are still too many in Washington who fail to realize that the climate has changed. The economic crisis has produced worldwide consequences .This was all avoidable if due diligence had been employed in financial markets and in the economic health of small business and labor. This recovery will require new ways of thinking in how we address these issues. The old ways have failed and we have moved into a new age. The rules have to be rewritten.

At one time we were a market driven economy. I don't like my home value going down, but that is a risk of a real estate investment. In 2004, Congress was warned and asked to act on the lack of regulation in the mortgage market (Freddie/Fannie) by the Bush. A bill Obama opposed along with Barney Frank and Chris Dodd. Since that way too many people who didn't deserve (finacially) to own a home or bought too much home. Now, we need to work these upside down investments through the market. How, bankruptcies and short sales. This would give responsible people the opportunity to buy nicer, better, maybe bigger homes the can now afford to pay for at current market prices... purchase prices and interest rates.

I would be all for lowering these dead beats monthly payment if it were in the form of longer terms at fair market interest rates. Run a 15 year to a 30 year. Or create "special" 45 – 50 year mortgages for these offenders, but at a fair market value interest rate.

Here is my plan. Let those who bought a home they couldn't afford give it back.

Where is my relief? I live within my means, and now I have to bail out people who don't.

On top of that, the stock market is down big time since Obama won. He's taking money out of all of my pockets. Why does he have a need to play in people's pockets?

?? Why Arizona ? McCain should refuse the money and so should the Govenor since they didnt support the bill anyways..Give the money to the states that DID support the bill...

31 to 38%???? How could someone ever be dumb enough to sign up for a mortgage that is so high – or apparently higher, if this is a "reduction" – a portion of their gross income?? You can blame the mortgage companies all you want – and there is plenty of blame to send their way – but it's still stupid and irresponsible for ANYONE to let themselves be suckered into these ridiculous loans that they ought to know bleeping well they cannot afford. I feel like MINE is too high, and it's about 25% of my gross. On the other hand, now that the mess is here, if it's truly bringing down the economy then there's nothing to do but....do something about it. I hate it but will be pleased if the plan can actually start turning things around.

great, let's give money to people who have shown no ability to manage their spending. Is that the american way?
Sorry, it's the dimocratic way. Take from those who have worked hard to fulfil the american dream and give to those who want the american dream handed to them. Makes you want to work hard and sacrifice, doesn't it?

Thank you my intelligent, (sarcastic laugh!), president.

When Obama signs the bill it will be a historic moment. And not a positive one. This will do much more harm than good. This will create a budget deficit that will make the Bush deficits look like small change when added to the cost of the bank bailouts, the auto bailouts, the home mortgage bailouts and what is sure to be a defict spending general budget bill. Obama, Pelosi, and Reid are insaine, and half the American public thinks this is good. We will never be able to pay for this, America will never fully recover. The one term Obama Presidency will be change to be sure, change for the far worse

jaye .. one thing ... John McCain does NOT own those properties .. His wife does.

As a result of some iffy transactions with Lincoln Savings & Loan in the 8o's?? .... he & his wife split their holdings in His & Hers columns .... so that she could conduct business with corporations & other entities that if Sen. McCain had owned them ... could be viewed by some as rather suspect.

Personally .. sounds goofy to me. But that's how the wealthy do things, I suppose.

Umm .... part of the foreclosure "problem" is that people were getting into homes that were WAAAY over-priced .... OR homes that they quite simply could not afford, even on their BEST days.

In the DFW area .... one of the news stations a few years back did an interview with a local mortgage lender. He was telling the reporter that he was hamstrung by gov't regulations that FORBID him from offering his professional opinion to clients seeking mortages. At the time of the interview, he'd already been in the business 15-20 YEARS and had plenty of experience with who and, more importantly, who wouldn't be able to keep up the mortgage payments once they were in their homes. He said clients had to SPECIFICALLY ask him his opinion before he could offer it to them .... regardless of race.

MY question regarding the foreclosures .... How many were the result of VERIFIABLE predatory lending practices and how many were the result of people just getting in over their heads??

I say help the first group & not the second. I stayed within reason (And my budget) and am paying my mortgage off in a few years & other than a possible home equity loan, at that time, for a metal roof .... I have NO intentions of going anywhere NEAR the mortgage market for a looong time. Too many sharks & no Roy Scheider in sight!

I am glad that some posters here are mad at the greedy AND the stupid.... we are so eager to attack anyone who is rich, as synonymous with greedy, but we don't focus on the idiots who think they can afford a $300,000 house on $40,000 a year. That is just plain common sense. My husband and I budget our $95,000 a year to pay for a $140,000 mortgage.
In the end, some people will have to suffer. I agree with some of the other comments. Drop the mortgage rate to 4%. Enough with this handout stuff. With lower rates, I will likely refinance (I am at 6% fixed now), and maybe even be able to purchase one of these distressed properties as income-generating. Regardless, I will definitely have more money to spend, on whatever, with the slightly lower payment and there will be no government bill because of it. Yes, banks are making less money, but they are still making money.

why is presedent Obama worried about every one else what i belive should be going on is he needs to be dealing with the nafta agreement. That is whats bringing our country down to the dirt, that is also why we have no jobs in the United States because they have all headed south. If he would do away with the nafta the jobs would come back to the american people. It would also put money back into our pockets..........

I must say what a mess. Mit Romney is even trying to dump 1 of his 4

Mansions for a cool 5.6 mill. complete with 9.5 bathrooms what belt

tightening.

As all the finger pointing continues and the average American gets

caught in the cross fire of the Banking Greed, Wallstreet Greed,

Governmental Slacking and Coroparate selling out of Americans. Its

a wonder that no one wants to be apart of the fix. Everyone is running

out of people to blame.

We voted for change and change we got. Now we have a Government

that is so far apart on all issues that it makes it difficult to create

change.

" STOP THE FINGER POINTING ".

"SUCK UP THE FACT THAT ALL YOU CAN DO TO HELP,

WILL ONLY HELP ".

We all need a Government that care about it's citizens. Itsn't that why

we go to war to fight for Human Rights? THE BATTLES WE HEAR OF

EVERY DAY IN WASHINGTON ARE THE MOST SICKENING DISPLAY

OF SELFISHNESS...................................................................

You are Too-Big. You need to down-size your home-space. You want it all, and you want someone else to pay the Bill... The world does not waste space, like America..

Dean in Florida seems to think that everyone who has gotten into trouble on their mortgages are stupid and/or greedy! All I can say is that he is an idiot and has no idea what some of us have and are continuing to deal with.
There are plenty of people, just like me, small business owner, trapped by a failing economy and close to foreclosure, who lost all of their promised nest eggs by being forced to sell their homes at a much lower price. I saw the economic downfall starting two years ago, but it was already too late. I was one of the fortunate ones who was able to walk away with the mortgage paid for, but no money in my pocket. I did it to reduce my personal overhead by two thirds, rent a modest home and save my little business. Who is helping me? The bail out plan and help with foreclosures is coming waaaay too late, but I'm grateful for the Obama administration having moved so quickly to help others.

Let's look at the plan first before make any negative comments. I believe the average of help for each home owner probably around $50k most (50 billions for 1M house.) So people can help on this bill won't suddently get rich. Just want to make sure the bill won't help those buying million-dollar house and wish govenrment to help out quarter millions.

Pakistan makes a deal to halt offensive against the taliban . Obama's response ???????????????????

Solve the foreclosure crisis??? Well, how about the lending institutions work out repayment deals with the borrowers so they can just PAY their mortgages instead of the feds throwing money at the peoblem??

Your comment is awaiting moderation.
Dumas, seriously? The stock market tumbled because of the BILL??? J

You don't think that maybe the stock market tumbled because of the California budget crisis? Or the fact that GM indicated over the weekend that they'd be going into bankruptcy without additional funds? Or any one of a myriad number of global economic warning signs?

You Rush devotees continually prove what total numbskulls you truly are.

You need to help ALL homeowners regardless of whether or not they are in default. There are some good people who have sacrificed to stay in their homes and stay out of default who need a break too. I'm not a homeowner, so I won't benefit either way, but fair is fair Mr. President.

Responsible homeowners only? Does this include the idiots that over-extended themselves thanks to Barney Frank's and the liberals' desire to see everyone qualify for a mortgage? Heck, maybe I will just stop making my mortgage payments...then I can get on the Obama welfare state gravy train.

I really appreciate the fact that Obama is working very hard to help us all.

We may not agree on some of his or even congress' decisions, but at least we can all say that we see him working hard every single day.

That in itself is change anyone can believe in. Remember Katrina.

Why don't you naysayers and whiners wait to hear his plan? None of you will read it but will wait until Rush tells you what to believe!!

800 Billion Stim Package
800 Billion Bank Bailout
65 Billion child education addition

And now they start thinking about forclosures... another couple hundred billion...

Dang... and I thought Bush spent a lot...

Chris February 17th, 2009 11:48 am ET

Again, where was GWB and the republicans great ideas when this whole mess began. You had your turn now step back and let a real man lead us out of this mess.

They were trying to regulate this problem but were filibustered by the dem congress including now POTUS Obama. Do some research. Obama and his ilk think that owning a house is a god given right. That is what got us into this mess. Obama was not around for the start of this but when he had a chance he did not vote for regulating this industry .

Fort Myers said everything you ever need to know about democrats. A bunch of back woods lazy dumb individuals with there hand out! Now I understand how BO can be elected, did not relize there was that many losers in this country.

As an Obama supporter I have an issue with any bill that rewards stupidity. How about some personal responsibility? If you used your home as a piggy bank to buy imported flat screens and other crap, you deserve to be out of doors. If you lived like Angelina and Brad, on your soda budget you deserve to loose your home. If you spent 250,000 on a party because your brat turned 16 you DESERVE a hard lesson, because you forget the simple principal thought to us by our elders, if it seems too good to be trust it probably is. Some of us are renters and others are 5 bedroom house people, grow where you're planted.

Here is the thing;
Now that the SPENDING PACKAGE ('stimulus') is for the 'go' , it will do as, by logic is/was deisgned to do; TO PERPETUATE THE CORRUPTED MALPRACTICES BY THE ORIGINALS CROOKS AND THIEVES AT WALLSTREET THAT START ALL THIS, BACKED BY 'THE COVER-UP GROUP' (Barney Frank, Reid,Pelosi,Cox,Dood,....and others weeds) This will continue until 'kindom come' – sort of speak

Truth is that eventuually the economic grid will come back on track and Obama and his gang will claim 'SUCCESS' to this so called 'stimulus'. WE ALL HAVE TO REMEMBER AND UNDERSTAND THAT ECONOMY SHOULD BOUNCE BACK AS NORMAL MARKET-DEMAND AND CREDIT CASH FLOWING MOVEMENT FOR THAT IS THE ALWAYS DYNAMICS IN THE ECONOMY SPECTRUM....IT IS A REGULAR AND NORMAL CYCLE AND HISTORY GIVES LIGHT INTO THIS.

But Obama and his gang will try ( ooohhh!! THEY WILL TRY ALRIGHT !) via SPLENDOROUS OBAMA-ELOCUENCY MIND PSEUDO-HYPNOTIC WAYS (just like using an enema ...like in the past campaing before the FRAUDULENT ELECTIONS) to feed into the public that is because his leadership.

AND CHANCES ARE THAT SOME OF THE PEOPLE MIGHT JUST EAT IT.

Hey! Obama and his gang are DRYING ! the taxpayer money reserves. WE NEED BETTER, HONEST AND CONCIOUS LEADERS AT HELM! The current administration is not good.

sincerely,
DC,Merrillville, IN

kevin,

Thank you!!!!!!!!!!!!!!!!!!!!!!!!!! Maybe they can lower our payments too. Wait,we work for a living, never mind!!!!!!!!!!!!!!!!!!!!

Wow now we have the Pide Piper Obama coming to save the day. Spending more money is not the answer. Tightening the belt and making people work for what they ear is a better answer. There are jobs out there than can be created for those who choose the welfare roll. And yes I said choose.

Whatever is done, DO IT QUICKLY!

Every minute a family is forced out of their home through foreclosure.

By the time any program is approved, it will be far too late.

What was Obama to do? If he did nothing, he would become George W. Bush and look at what he has done to bring all of this into existence? And there is now every indication that Bush knew at least a year ago that this was coming and he expected that this would occur on the next president's watch and not on him, a kind of time bomb of destruction which he allowed to spawn! What man would take a surplus that was given to him by President Clinton and incur a ten billion dollar deficit over the intervening eight years! In physics it is known that water and oil do not mix and by revolving said "mixture" backwards will produce the original admixture and that is what the Obama administration should do to ascertain what these idiots were attempting to do by creating this fraud in the first place. Obama is doing what he can!

AZ.... isn't that where 2 republican senators that voted no on the stimulus bill are from?

Obama needs to stay out of the states that do not want stimulus. The republicans (especially McCain) have showed their bipartisanship.

Chris from NY: The only read about 1/4 of the bills that come before them. That is why this country was talked into a war.

dont worry freinds ole nancy will be in you back pocket taking away your money to help some people who knew better,,,,,your bet we are seeing change ,,,ugh

Anybody actually think the first $700B , in addition to this $789B is the end of it? Sorry your wrong! More of our money will be foolishly spent and the change you can believe in will be the nickle and dime you have in your pocket after you have held up by the government! Before you whine, this includes the Clinton, Bush, and Obama administrations!

So people don't pay for the house they bought and instead pay a % of their income. Dose anyone see a problem with this. Will this not hurt the mortgage lender. Or will the taxpayers foot the bill for people that can't handle the payments they agreed to make when they got the loan. I am only 26 but I have 3 mortgages and I own two houses and some how I was able to tell if i could afford the payments I agreed to make. Am I that much smarter than the rest of the country? The wife and I take home less than $80.000 a year Including rental income from our first house. The reason that we are in this mess is because the banks should never have given those people the loans in the first place and the people should know that they can't afford a home. For all you bush haters, the fact is that bush tried to regulate fanny and fredy but was filibustered by a dem congress including a certain junior senator form IL.

well......this guy will make the Jimmy Carter economy look good...........the good news is that it is 4 and out for this loser

Funny how the Wall Street empty heads keep complaining about Obama's economic plans. These empty heads destroyed our economy and now they're trying to convince us they know or mean better than the Economist -in-Chief. I'm soooo glad Wall Street doesn't like the President's economic plans so far – that's a good sign for Main Street and Main Terrace.

Enough with the greedy speculators already!!
Enough with the cut taxes republican ideologues!!
Enough with the trickle down bs!!

Enough!!

Unfortunately this is needed. I imagine McBush is having a childish hissy fit sitting high on the hog in one of his luxurious mansion retreats.

This not just about ill-informed or greedy people who can't make their mortgage payments anymore. People are losing their jobs by the thousands every day, are bankrupted by catastrophic illness or other problems. I watched 60 Minutes Sunday and was shocked at the banking industry's aggressiveness in procuring second and third mortgages from people they knew couldn't or shouldn't qualify. I paid cash for my house and have zero debt and I have been hounded by these sharks for the last four or five years. They are maaking money off of the new fees, higher interest and if the borrower can't pay, take the house back.. it was a grand scheme while it lasted.

God help us.

I heard yesterday that if we did not have a stimulus package, the economy would have straightened itself out by about mid-summer. I heard that now that we have a stimulus, the market will take much much longer to recover. And I still say, "F" the trade balance, repeal NAFTA and CAFTA and bring our jobs back home and let's have "Made In the USA" again.

There are a lot of people who are affected by the crisis in the real estate/mortgage market than those who were in ARMs. I have a 30-year VA-backed loan, for which I went through a strenuous credit raking over. Due to the recession in the technology field (which, by the way, started in telecom in 2001, even before 9/11), I've almost lost my home twice.

It would have been nice to have some mortgage help in doing some refinancing or adding payments to the end of the loan rather than have Countrywide just try and dump me. I nearly bit my tongue when I saw they had their hands out to the Fed - no help for me after nearly 20 years of payments on my mortgage, but they just HAD to have money from the Fed, but then got bought by BofA. Hypocrites!

"February 17th, 2009 11:48 am ET

Again, where was GWB and the republicans great ideas when this whole mess began. You had your turn now step back and let a real man lead us out of this mess."

You know Obama's doing the exact same thing as Bush right?

Can anyone explain why it's acceptable to take money from someone who rented a place to live and give it to someone who bought a house they couldn't afford?

Can anyone explain why it's acceptable to take money from someone who rides the city bus every day to work, and give it to failing auto manufacturers?

I`m sure the NO Party ( Republican) won`t be represented at the signing. – They don`t like anything they cannot accept MOST of the credit for.

Dean in Florida...just pray that you are not added to the millions of unemployed so you can continue paying your mortgage on time for another 12 years. You don't get it. Some responsible Americans are behind in the mortgage payment because they have lost their job and the unemployment keeps growing. From what I hear the average american get for unemployment its not enough to pay a mortgage and this is totally out of their control.

So before you speak so negative about others that are behind on their mortgage ...THINK, because the average american is one pay check away from being BROKE. Have a Heart!

What is the definition of "responsible homeowner."

Obama continues to exceed all expectaions. In his first few weeks in office, he has already accomplished a great deal toward fixing the mess the last administration got us into. The Pathetic Republicans are sitting on the side lines, blocking every effort to right this sinking ship of an ecomony, and hopping that the ecomomy fails as thet put thier own shady agendas above the wealfare of the American people.

Hopefully the "loan Modification" won't be a decrease in the principal balance. The only "fair" way is to extend the life of the loan, fix the interest rate to lower the monthly payment. People who are upside down in their loans need to be able to refinance. But in the end if someome borrowed 500,000, then they need to pay back 500,000.

What I don't get is, How can a country rally around an African American who will lead them in any sport whether it's college or pro to a championship, but we can't rally around one who is leading our country. What's wrong with that picture. Give the man a chance and let him do his job. Just like we have done in the past with every president before him.

I would like to make a point that while unfortunately there are cases of people just living beyond their means, there are MANY of people being DUPED into these problems. Did anyone happen to catch 60 minutes this past Sunday. If not go to the website and watch video on this. So many people (many elderly) were tricked into being told this was the BEST THING FOR THEM and then they had the rug pulled out from under them. These people need help and unfortunately there will be some people (just like with welfare) who simply are abusing the situation, but we cant turn our backs on the people who REALLY need help.

For all you Idoits that are already downing our President,
WE WOULDN'Y BE IN THIS MESS IF IT WASN'T FOR THE REPUBLICANS SIGNING OFF ON DEREGULATION & WAR>

YOU PEOPLE NEED A LIFE!!!!

In fact, lay off Congress for 2-3 months and watch the economy fix itself.

If you haven't figured it out by now, they will not stop until the entire country, AS WELL AS EVERYTHING YOU HAVE, is in their hands.

Take a look at the stock markets worldwide today. They are in the toilet because they have NO FAITH in our government.

Most of the idiots voting for change have no idea this is going on; and the rest are still waiting for Obama to cover their car and house payments. Not long to wait now!

How's that investigation into Fannie and Freddie going?!?

How's the ehtics probe into Chris Dodd and Countrywide going?!?

What's the word on Charlie Wrangel....Thunderbird?!?

Somebody tell Bill Clinton he did help cause this mess (and his zipper was up!)

Why do we need THREE bills to finally start plugging the hole that caused this disaster?!?

I'd wish that Air Force One would crash and burn except that good Air Force personnel would be harmed and then Pelosi would be president...what a nightmare.

For a foreclosure plan to be effective, Obama should ensure the bailout money is not given directly to banks, rather it be given directly to distressed homeowners.

If money is given to Banks, it will be all gone in bonuses, luxury, travel, private jet rides and vacation at exotic resorts for high officials.

Unfortunately, we don’t have enough regulations to audit and control these Banks.

Next on the agenda: The Fairness Doctrine; Amnesty (they need the additional tax dollars); and healthcare. Want to fix healthcare? Put Congress and all federal employees out on the street to shop for their own.

And the last ugly item on the agenda: nationalize your 401K and pension so it can be shared with everyone, in one big pot. Not to worry. They'll send you a $600 check once a year. Wish I was kidding.

Why is government not talking about cutting back? This is what is eating up the tax dollars. Lay everyone in the government off for 2-3 months. You will be amazed at the savings.

I suppose it is President Obamas fault also that Donald Trump filed for bankruptcy and Mitt Romney has to sell two of his mansions and the SEC just raided another Billion dollar Ponzi schemer in Houston a couple hours ago. Please post your ideas on how to get us out of this mess.

OK after he fixes the housing, when do I get my free gas and free edumacation, and free welefare?

it was people buying more house than they could afford that started this along with banks making loans to those who couldn't afford them. The loans need to be allowed to fail, a new housing market equilibrium will be reached, and we will move on. Those banks and people who acted irresponsible will get the 'deal' they deserve- bankruptcy.

I agree with Danny in Chicago when he talks about paid bloggers stirring things up. They definitely do as do alot of some of the regular on airs there. You then can tell when it is a news story not panning out in flash and bombastic form like they want it to. Then what happens as seems to do in many media forms, the news reporters almost seem like they want to go beyond their function and become part of the story themselves. They are reporters, readers. Is it THAT important that they also become part of the story of another separate story unto themselves. Not very responsible journalism to me. Though I will say that CNN is mild as compared to that other one that claims to be fair and balanced. Fair and Balanced when you have the likes of O'Reilly, Beck, Hannity, Morris, so on and so on? Hardly.
Report the news of the stimulus plan, accurately. What happened to the national debt level when Reagan took office first and what was it when he left office? The GOP wants the same approach. ALSO...remember when W wanted to put Social Security money into the Stock Market? Glad they did not let that clown do that.
Email, write, phone, whatever it takes...let our reps. know ideas that we have to solve this problem. Let's participate as a whole to make this wrong become a right.
Have a GRRRRRREAT day America !!!

Erstwhile home owners, simply, can not wait to hear news of some respite from the current crisis.

Here's the solution to the foreclosure crisis – every lending institution will refinance mortgages at a lower FIXED rate of interest, for a longer period of time. This will allow the homeowner to afford the payment and the lending institution still gets their money/profits. It is that simple. So the question becomes, why haven't the lending institutions done that. The answer – GREED. Time for the government to force the issue – eliminate any variable rate mortgages and allow only fixed rates.

I guess everyone has forgotten what got us in this mess.
Remember it all started because the government mandated that banks give loans to anyone and everyone. Now the deal is that we are going to make their payments for them. That is not socialism?

Another problem. Another reason for spending.

This is the exact plan that MCCAIN came u with during the election and Obama and other liberal knuckleheads said was a terrible idea. It is just like the Democrats to steal Republican ideas and claim them for their own.

And all the GOP can do is cry Ricohlaaaa, (Austrian Economics)

This is happens when you force banks to give home loans to those who can't afford them, many to illegals here in Arizona and when things get tough, they skip back cross the border. Remember this state was rundown by your very own Secretary of Homeland Security "Janet Napalitano".

If Obama was really serious about stimulating the economy than simply eleminate the payroll tax deductions and let the American people do the stimulating, not the Bozos in congress.

Can we impeach Obama before he does any more damage to the country?

You Republican followers are stupid, selfish, hateful, totally lacking in compasion. Looking at the comments here, I bet none of you do any kind of chariable work or donation. Your kind end up ruining any Nation and will also end up down below, where it is extra extra warm.

TO: Dean in Florida – for your information not everyone who lost their home were neglectful in buying within their means. Many of them have lost their jobs and/or have been hit with unexpected high medical bills not covered by these rich insurance companies who are getting $$ from the government and numerous other reasons. I'm glad you can feel so self-righteous - you must be a repubilcan. Even Romney is having to unload 2 of his mansions, maybe he should have planned better.

Wonder if John McShame will be present?
Of course he won't be – he'll be in one of his 9 mansions cooking up a plan to stop Obama at all cost.

It seems to me that none of Obama's plans have details. Their standard anwser is we have a plan, but we are not releasing any of the details.

The stock market sure seems to be impressed with Obama's "plan" so far – down 250 just today.

Face it folks – we have been hosed by another lying S.O.B. !!!!!

Come one people, Obama is trying to fix everything. It is complicated, I doubt you could do it better. It is time to try new, different and more. Our taxes are low compared to many countries. It is time to pull together for the common good. Boo to republicians...intolerant cry babies.

Govrnment should buyout mortgags from Lenders with early payout penalties to banks, etc.; Owners keep their property titles, Cities and Counties continue to Tax said properties; Home Owners pay back the U.S. Goverment thru I.R.S. payments.
Thus Banks and Lenders aquire their monies, Home Owners keep their properties, Cities and Counties continue with Tax Revenues, The I.R.S. contiinues to collect monies due the Government.
Employment and Business should thrive in a positive direction !

Ah, a new team of profiteers at the public feed trough.

It looks like the elected ones are in competition to see who can spend the most tax dollars the quickest.

I am not sure we will survive.

Hopefully the plan will help stop the continued erosion of property values that impact even those of us who are current and paying their mortgages.

I don't want a wholesale bailout of every delinquent homeowner, but the property values are going down where ever foreclosures are happening at an even faster rate than in areas not impacted.

I hope that at the minimum, the taxpayers get a share of the increase in value when the home is eventurally resold. (And that they are included on all insurance policies as one of the payees.)

Hopefully he says more than Guitner.

I might as well stop working, stop paying taxes and stop paying my mortgage. I guess under Obama, I would be better off not being productive. This administration is a JOKE.

A trillion here, a trillion there. It's only money. Except no one knows there's no money to pay for all this. Government interference will destroy our economy for years to come with inflationary effects of all this "help".

I don't know why this isn't getting the full focus of our tax dollars instead of wasting the money on projects that won't effect our economy for decades, if ever.

Face it folks, the housing crisis is what started this mess. Loans were given (and taken) recklessly, and housing prices inflated to unrealistic levels. When the bubble burst, billions of dollars in defaulted mortgage loans brought the banking industry to its knees. The result: no more credit for anyone.

There are three groups to blame, and I'm all for holding them accountable: greedy lending organizations who set aside responsible lending for a gamble at big profits; greedy individuals who took loans they couldn't afford simply because it was offered to them; and corrupt politicians like Chris Dodd and Barney Frank who stood in the way of any government oversight.

However, we need to fix the problem first, and the best way to address it is for the government to simply buy up these mortgages. The loans can then be restructured to something affordable, even if it ends up being a hundred-year loan at 2% interest; the banks can write these things off their balance sheets and get credit moving again; and most importantly, we have something TANGIBLE to show for the money. We, as taxpayers, will own these houses; money will be flowing in from them; and when they're finally re-sold or paid off, we can recoup all of our money plus a little profit.

If you want to kill a weed, you attack the roots, not the leaves. How many houses could we have bought so far with the money from two stimulus packages and a bailout plan?

Way to go Obama! You know what you are doing and I trust you!

Don't listen to CNN's paid bloggers (it's funny how they always appear right when a ticker comes out – THIS ONE EVEN HAD THEM POSTED AS THIS TICKER APPEARED) – they are paid to lie and stir things up!

CNN doesn't care about you or this country – they just care about ratings and money!

And John King is a tool and a poser!
Blitzer is a sell out

OBAMA IS SMARTER THAN ALL OF YOU!

You're not going to win these tactics!!!!

Come on boys-keep up! You're fallin behind!!!!

Time to stop being responsible? I wonder if I should stop paying my mortgage payment hoping that a judge will lower my principle? (for all the Obama voters, principle is the amount you owe on your mortgage) Thanks for screwing the people that lived within their means. If we have to do something, make mortgage rates a flat 4%. That way responsible people can buy these distressed properties instead of trying to keep the original owners in the house.

Dumas, seriously? The stock market tumbled because of the BILL??? J

You don't think that maybe the stock market tumbled because of the California budget crisis? Or the fact that GM indicated over the weekend that they'd be going into bankruptcy without additional funds? Or any one of a myriad number of global economic warning signs?

You Rush devotees continually prove what total numbskulls you truly are.

In the meantime, My mother, as well as countless others has already lost their house, and there are now 8 of us living in one apartment.... but hey, I guess you cant help us, you can just take more of our money and give it to someone else so THEY can keep THEIR house.
Thanks

I'm loosing track is this part of the Bailout III plan from the new treasury secretary, or something else on the side to add to our debt?
How many bailouts are the America taxpayers going to have to pay for going forward for several generations?
The American citizen is being systematically enslaved.

I live within my means and I'm sick and tired of bailing out the stupid and greedy.

Again, where was GWB and the republicans great ideas when this whole mess began. You had your turn now step back and let a real man lead us out of this mess.

Dean in Florida February 17th, 2009 11:21 am ET
How about helping people who aren't stupid or greedy . . .
I've never missed a payment. I've never been late with a payment. I've paid all of my taxes.
I've done everything correctly. Where is my reward?
----------–

YOUR reward will be to pay . . . and pay . . . and pay . . . for the "stupid" and "greedy." Really pays be be personally responsible, doesn't it ????????????

Bob in PA I wish you have told the Bush Klan to STOP when they were in office.

Well Dean in FL aren't you just fantastic, great, deserving of I pay my bills on time award. Some people are not that fortunate. You need to shove it.

I am convinced the only way to repair our nation is for everyone to save their money and pay cash for all purchases. New Credit should be banned for at least 5 years unless a mortgage or business loan. Credit cards must be melted to build a shrine to stupidity!!! America can rebuild very quickly just off our saved finance charges and think about ridding ourselves of cell phones & gadgets also till we recover!!!

So...when is CNN going to report on the conspiracy theory paranoia that has GOPers claiming George Soros "sneak attacked" our economy?

The Hypocrite flies to sign his bill.

Did anyone else notice that the pork percentages were in direct correlation to the support given to the President during his campaign? Is this pay for play?

BTW how nice to see the stock market tumble today because of the bill.

After over a trillion in wasteful spending on democrat wet dreams, are we finally going to attack the real problem in this recession?

I think the housing bill needs to be the full 100 billion. This is the root of the problem and we need every cent we can to fix it. I hope the bill will allow the homeowner and lender to renegotiate lower mortgage payments. If we have a strong enough bill that will do this, we may get out of this mess.

STOP SPENDING MY MONEY

CUT MY TAXES AND LET ME KEEP MY OWN MONEY.

AT LEAST I'LL BE ABLE TO FEED MYSELF.

But the goal here is not to just help people.. the goal is to get as many people as possible addicted to government assistance.

GET YOUR HANDS OUT OF MY POCKET AND LEAVE MY PAYCHECK ALONE. I WORK HARD FOR MY MONEY AND I'LL GIVE IT TO THOSE I SEE FIT. IT SURELY WON'T BE DEADBEAT WELFARE ABUSERS WHO DONT WANT TO HELP THEMSELVES.

That's it guys, create a foreclosure plan that harms the banks profits.
The banks will in turn continue to hike credit card rates abover the 18% rate. Credit will end up being so tightened, we will end up with the worst stagflation ever seen, if not a huge recession that will take 10-15 years to recover from.

This continuation of policies that got us hear in the first place needs to stop.

basically, he is about to announce that he is spending more of our money.

holy crap.

I heard all the jokes about "change" and "thats all that will be left in our pockets."

i thought those joke were funny, but its not too funny when it becomes a reality.

Hey, buddy, STOP SPENDING MY MONEY.

It wasn't OK under Bush, and it sure as heck isn't OK now.

STOP SPENDING MY MONEY.

CUT MY TAXES AND LET ME KEEP MORE OF MY OWN MONEY

How about helping people who aren't stupid or greedy. When I bought my house twelve years ago, I made sure I stayed within my means. I wanted a larger house, but my purchase was modest. And I based my mortgage on what I could afford per month.

I've never missed a payment. I've never been late with a payment. I've paid all of my taxes.

I've done everything correctly. Where is my reward?

Thanks Obama. Shove it...

Welcome to Mesa, AZ Mr. President.

For most of you readers out there, the City of Mesa is also in a budget crisis, mainly due to their own choices. The City of Mesa has no property tax, so most of the revenue comes from sales tax. The residents have kept defeating any property tax agendas put on the ballot. Mesa, also has one of the largest school districts in the nation, so where does the money come from?

I have heard so much about members of the congress not having enough time to read the bill before it' passed. My question to them is can't they read or did they choose not to read the bill. This process has been on since three weeks now with a few modifications along the way. Students read a whole book in a week if their grades depend on it. Why our congress chose this kind of excuse for not reading this bill is not only inexcusable it is also sorry of an excuse.