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Reply #22: Already answered. What part of it do you not understand? [View All]

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ProgressiveProfessor Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-23-11 09:26 AM
Response to Reply #19
22. Already answered. What part of it do you not understand?
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  -Congressman: Obama should unilaterally refinance every home mortgage boston bean  Oct-23-11 08:34 AM   #0 
  - Does the President actually have the authority to pull this off?  Firebrand Gary   Oct-23-11 08:45 AM   #1 
  - According to Rep. Moran, he does. nt  boston bean   Oct-23-11 08:46 AM   #2 
     - Moran is dead wrong  ProgressiveProfessor   Oct-23-11 09:02 AM   #6 
        - What is the exact reason Obama can't do this? nt  boston bean   Oct-23-11 09:07 AM   #7 
        - There are many...  ProgressiveProfessor   Oct-23-11 09:12 AM   #9 
           - The majority are backed by Fannie and Freddie. nt  boston bean   Oct-23-11 09:18 AM   #13 
           - Not relevant to existing mortages.  ProgressiveProfessor   Oct-23-11 09:21 AM   #15 
           - I want to know why Obama can't do it? Exact reason why please.  boston bean   Oct-23-11 09:23 AM   #19 
              - Already answered. What part of it do you not understand?  ProgressiveProfessor   Oct-23-11 09:26 AM   #22 
                 - Jim Moran says he can, your answer is not a real reason why he cannot.  boston bean   Oct-23-11 09:29 AM   #25 
                    - If Contracts and Constitutional Powers 101 are not enough for you, what would be?  ProgressiveProfessor   Oct-23-11 09:33 AM   #32 
                       - Jim Moran made the distinction in the video. Did you watch it?  boston bean   Oct-23-11 09:35 AM   #36 
                       - See post #43. Moran made a classic pol statement and you are misreading it  ProgressiveProfessor   Oct-23-11 09:55 AM   #46 
                       - I didn't add any personal opinion in the OP. In fact, I have barely had a personal opinion in this  boston bean   Oct-23-11 09:57 AM   #48 
                       - What is in it for the OWs  selah775   Oct-23-11 01:48 PM   #86 
                       - Here is the rub as I see it.  reformed_military   Oct-24-11 10:45 AM   #104 
                       - What part of the Constitution prevents him from doing it? Contracts are ruled null and  Exilednight   Oct-23-11 07:33 PM   #90 
                          - By the judicial branch at the request of someone who has privty of contract  ProgressiveProfessor   Oct-23-11 10:35 PM   #98 
           - Sure about that?  Doremus   Oct-23-11 09:50 AM   #42 
              - Not sure, but I think that Fannie and Freddie own most of them due to the bail outs.  boston bean   Oct-23-11 10:14 AM   #52 
           - What change?  Pab Sungenis   Oct-23-11 11:30 AM   #69 
           - Not without enabling legislation and appropriations  ProgressiveProfessor   Oct-23-11 11:42 AM   #74 
              - It already has the power.  Pab Sungenis   Oct-23-11 11:45 AM   #77 
                 - Lay that one out  ProgressiveProfessor   Oct-23-11 11:46 AM   #78 
                 - That would actually work. Create a bad bank, buy up the mortgages, lord knows the banks don  Exilednight   Oct-23-11 07:39 PM   #91 
                    - Where would the funding come from to buy up the mortgages?  ProgressiveProfessor   Oct-23-11 10:42 PM   #100 
                       - That's why you create the bad bank. n/t  Exilednight   Oct-24-11 07:09 PM   #107 
                          - The paperwork to create it does not mean the funding to do what you propose will appear  ProgressiveProfessor   Oct-25-11 11:06 PM   #110 
                             - it doesn't need funding, just short term borrowing power - which is  Exilednight   Oct-26-11 05:29 AM   #111 
           - Tell that to the GM bondholders  IndyPragmatist   Oct-26-11 06:12 AM   #112 
        - FDR created the h.o.l.c.  StarsInHerHair   Oct-23-11 08:53 PM   #94 
           - It was done with the cooperation of the Legislative branch, not by executive fiat  ProgressiveProfessor   Oct-23-11 10:59 PM   #101 
  - Wouldn't that be an indirect way of bailing out the banks -- again?  no_hypocrisy   Oct-23-11 08:49 AM   #3 
  - Ask yourself why the banks aren't doing it themselves if it helps them so much...  boston bean   Oct-23-11 08:50 AM   #4 
  - Yep.  no_hypocrisy   Oct-23-11 08:51 AM   #5 
  - They're not doing ti because they want the full value of the original loan. n/t  Exilednight   Oct-23-11 07:41 PM   #92 
  - This would crush the banks.  Lucky Luciano   Oct-23-11 09:31 AM   #29 
  - Then in turn and as stated in financial reform  Firebrand Gary   Oct-23-11 09:39 AM   #38 
  - It's the way the banks should have been bailed out to begin with.  Pab Sungenis   Oct-23-11 11:32 AM   #70 
  - All I want for Christmas is this to be true and for Obama to do it.  Firebrand Gary   Oct-23-11 09:09 AM   #8 
  - And many little girls want a pony  ProgressiveProfessor   Oct-23-11 09:13 AM   #10 
  - really? and why is that Obama can't do it? Exact reason please.. nt  boston bean   Oct-23-11 09:17 AM   #12 
     - Cited above...lets keep it in a single subthread  ProgressiveProfessor   Oct-23-11 09:22 AM   #16 
        - I'll respond where I see fit, thank you. Just as you are. We can both do what we like. nt  boston bean   Oct-23-11 09:31 AM   #28 
  - But the party of NO would say NO.  Amonester   Oct-23-11 09:17 AM   #11 
  - Ah, he wants a dictatorship,  MadHound   Oct-23-11 09:21 AM   #14 
  - He says Obama does have the power.  boston bean   Oct-23-11 09:23 AM   #17 
  - And as discussed above, Moran is wrong  ProgressiveProfessor   Oct-23-11 09:24 AM   #20 
  - It would require giving Obama the power to break private contracts,  MadHound   Oct-23-11 09:25 AM   #21 
     - I'm not sure I see it as a slippery slope. there are many things he cannot do.  boston bean   Oct-23-11 09:27 AM   #23 
        - You think POTUS can unilaterally break private contracts?  ProgressiveProfessor   Oct-23-11 09:28 AM   #24 
           - I said Jim Moran said he can lower the rates unilaterally. That is what I am saying. nt  boston bean   Oct-23-11 09:30 AM   #26 
              - That is not what Moran said...and POTUS can not unilaterally do it anyway  ProgressiveProfessor   Oct-23-11 09:32 AM   #30 
              - What did Moran say then? What am I misunderstanding? nt  boston bean   Oct-23-11 09:33 AM   #31 
              - In order to do so, he would have to break a private contract  MadHound   Oct-23-11 09:33 AM   #34 
                 - Many of these contracts that were done, were not on the up and up.  boston bean   Oct-23-11 09:46 AM   #41 
                 - The answer is still not a POTUS decree  ProgressiveProfessor   Oct-23-11 09:54 AM   #44 
                 - Why? nt  boston bean   Oct-23-11 09:55 AM   #45 
                    - Because he does not have the authority at this point to break private contracts  ProgressiveProfessor   Oct-23-11 11:43 AM   #76 
                       - That is not what Jim Moran is saying.... you need to listen again to his words. nt  boston bean   Oct-23-11 11:46 AM   #79 
                          - I did, typical pol sound bite, no details, not implementable, but made the news  ProgressiveProfessor   Oct-23-11 11:47 AM   #80 
                             - then you don't understand.  boston bean   Oct-23-11 11:52 AM   #81 
                                - No it is you who does not understand the current laws and how home financing works  ProgressiveProfessor   Oct-23-11 12:07 PM   #82 
                                   - He admitted no such thing, in fact, he said the exact opposite of what you are interpreting. nt  boston bean   Oct-23-11 12:08 PM   #83 
                 - That still doesn't give him the power to break a private contract  MadHound   Oct-23-11 02:01 PM   #88 
                 - we'll have to borrow the money from China  selah775   Oct-23-11 02:00 PM   #87 
  - Agree. n/t  lumberjack_jeff   Oct-23-11 11:24 AM   #67 
  - It is contemptible for a sitting member of Congress advocate for the transfer of power vested  Chih   Oct-23-11 09:23 AM   #18 
  - ah-um: This $y$tem is...  Amonester   Oct-23-11 09:33 AM   #33 
     - Correct, It would require some massive legal changes and is not possible today  ProgressiveProfessor   Oct-23-11 09:35 AM   #35 
        - Let's make it become possible then.  Amonester   Oct-23-11 09:36 AM   #37 
           - At least lets not foolishly claim it can be done today by POTUS decree  ProgressiveProfessor   Oct-23-11 09:53 AM   #43 
              - I think you need to re-watch the video. He doesn't say what you are saying he did. nt  boston bean   Oct-23-11 09:56 AM   #47 
              - He said what I described. He was a typical pol giving out soundbites  ProgressiveProfessor   Oct-23-11 09:58 AM   #49 
                 - He said what is written in the OP, and what he said in the video. Not your interpretation.  boston bean   Oct-23-11 09:59 AM   #50 
                    - Try again, this time with some clarity  ProgressiveProfessor   Oct-23-11 11:26 AM   #68 
              - "It would devalue banks tremendously as they compete with  socialist_n_TN   Oct-23-11 10:45 AM   #58 
                 - Did I say it was a bad thing?  ProgressiveProfessor   Oct-23-11 11:35 AM   #71 
                    - Nope most of the exposure was to private mortgage banks  socialist_n_TN   Oct-23-11 07:23 PM   #89 
                       - If your assumptions are correct, I would tend to agree  ProgressiveProfessor   Oct-23-11 10:38 PM   #99 
  - Helps a small percentage of the people with underwater mortgages  FarCenter   Oct-23-11 09:31 AM   #27 
  - And which Congress, pray tell, is going to appropriate the money to do this?  ThomWV   Oct-23-11 09:39 AM   #39 
  - Please watch the video, I think it will explain why Jim Moran says he has this power.  boston bean   Oct-23-11 09:44 AM   #40 
     - Where's he going to get the 10 trillion $  dems_rightnow   Oct-23-11 09:06 PM   #95 
  - Love this idea.  Kingofalldems   Oct-23-11 10:03 AM   #51 
  - Obama should unilaterally Mow my Lawn and Fix my Headlight....  NYC_SKP   Oct-23-11 10:21 AM   #53 
  - i take it you didn't watch the video? nt  boston bean   Oct-23-11 10:32 AM   #54 
     - No, I read the transcript. I stand by my assertion that Wall Street won't let him do it.  NYC_SKP   Oct-23-11 10:36 AM   #55 
        - Wall Street won't let him do it?? So they are more powerful than the POTUS?  boston bean   Oct-23-11 10:40 AM   #56 
           - When has a POTUS without a sympathetic Congress EVER done anything so bold?  NYC_SKP   Oct-23-11 10:47 AM   #60 
           - No one would ever know unless he was bold enough to try it, right?  boston bean   Oct-23-11 10:50 AM   #61 
              - He lacks the basic authority to do anywhere near what you advocate  ProgressiveProfessor   Oct-23-11 11:38 AM   #72 
                 - Moran admitted what??  boston bean   Oct-23-11 11:40 AM   #73 
                    - That legislation and appropriations were needed  ProgressiveProfessor   Oct-23-11 12:09 PM   #84 
                       - that is not what he said. in fact it was the opposite. nt  boston bean   Oct-24-11 07:36 AM   #103 
           - Well that's the idea behind OWS isn't it?  socialist_n_TN   Oct-23-11 10:52 AM   #62 
              - I think you're right except not sure he can legally do it. For sure he can't practically without US  NYC_SKP   Oct-23-11 11:05 AM   #66 
              - I would hope our voices meant more. However that doesn't seem to be the case.  boston bean   Oct-23-11 11:43 AM   #75 
              - He can not do it legally today  ProgressiveProfessor   Oct-23-11 12:10 PM   #85 
  - this thread is awesome.  dionysus   Oct-23-11 10:45 AM   #57 
  - Place does get fuckin' wacky some days, doesn't it? nt  Codeine   Oct-23-11 10:46 AM   #59 
     - some people think the president could unilaterally;  dionysus   Oct-23-11 10:54 AM   #63 
     - that is bologne.  boston bean   Oct-23-11 10:55 AM   #64 
     - YUP! n/t  Tejas   Oct-23-11 11:01 AM   #65 
  - I have a better idea than refinancing home mortgages.  ms.smiler   Oct-23-11 08:03 PM   #93 
  - Question???  sweetapogee   Oct-24-11 11:27 AM   #105 
     - It can and I will explain.  ms.smiler   Oct-24-11 06:55 PM   #106 
        - in a nut shell  sweetapogee   Oct-25-11 06:17 AM   #108 
           - Like most homeowners I have a securitized mortgage.  ms.smiler   Oct-25-11 04:33 PM   #109 
              - personally  sweetapogee   Oct-26-11 07:51 AM   #113 
                 - I think it is fairly easy for the court to review what MERS has done  ms.smiler   Oct-26-11 01:43 PM   #114 
  - Rep Moran is the  Nodak   Oct-23-11 09:08 PM   #96 
  - He is a good pol doing what pols do, including making sound bites for media  ProgressiveProfessor   Oct-23-11 11:01 PM   #102 
  - But that would interfere with his next Wall Street bailout.  Vidar   Oct-23-11 09:26 PM   #97 
 

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