Bush and Dems not that far apart on housing crises

I’ve got to say that Bush and the Democratic Presidential candidates are pulling the wool over our eyes on the housing crises.

On freezing interest rates for subprime loans, Bush’s plan today is a total crock. The NY Times reports his plan would “exclude many — if not most — subprime borrowers” including those who are delinquent on their payments. In a nutshell it’s a sham.

But what’s worse: a President no one trusts making promises no one believes or the Democratic candidates presumably trying to replace him covertly aiding and abetting his policies?

Jesse Jackson spelled out the problem recently, noting nearly every single Democratic candidate lacks an agenda to promote African American issues while condescendingly expecting votes from that community. Presidential candidate Senator Chris Dodd is a key example. While loudly denouncing Bush for allowing the housing crises to precipitate, as Chairman of the Senate Banking Committee, he has been helping Bush’s HUD Secretary Alphonso Jackson to close the last remaining resource for helping homebuyers avoid predatory loans. Senator Dodd is siding with Republicans in the Senate to oppose Maxine Water’s and Barney Frank’s bill in the House to save downpayment assistance programs, which allow nonprofits to help working families with the 3% downpayment necessary for Federally insured home loans.

The posturing on this is reaching new heights….but where is the press in uncovering the double talk? Absent as usual.

  • Dodd doesn't care about the people...just getting elected.

    Senator Dodd has been so busy campaigning that his committee staff is hijacking the housing agenda. Word on the hill is that the staff is buddy-buddy with Senate Republicans like ranking minority member Richard Shelby (R-AL) on the Banking Committee. That’s really why Dodd is against downpayment assistance.

    It’s a shame because with falling housing prices, lenders are going to become more strict on loan requirements, shutting out many working families of moderate income that don’t have family network to go get a gift from for the down payment.  Im sure if someone asked, folks on Dodd’s staff or his Banking Committee staff have asked for a received some help from their families when buying their first house. Senator Dodd,, he might not have needed help, I don’t know. But I know his Dad was a Senator so he had a lot of help if he needed it. That’s what the downpayment assistance program does-it stands in the place of a parent with menas to pull the next generation up into homeownership and wealth creation. Doddd and the rest of the Democratic Senate should be for that. The only other avenues to homeownership fpor many left behind are (1) predatory loans or (2) downpayment assistance programs…which Dodd and Republicans are shutting down.


    • yea actually..


      According to Vote Smart’s list, Dodd missed 75 percent of key votes in October and has missed 100 percent of such votes this month so far.

      Dodd’s competitors in the presidential race have also missed many of these votes. Biden, Clinton, Obama and McCain all missed the Mukasey vote; all but Biden missed the children’s health vote.

      Taking care – or not taking care – of Washington business is an issue for Dodd, whose campaign stump speech is littered with references to his long experience in national affairs and his ability to reach across the aisle to sponsor and pass key legislation. Dodd also makes frequent references to his powerful role as banking committee chairman, which places him in a prime position to affect legislation passed in the wake of the sub-prime mortgage crisis.

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