Will Bribe For Votes

Posted on April 10, 2012 by

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Barry’s offering up another illusory bail-out: this vote-buying scheme is directed, supposedly, toward so-called “underwater” mortgage holders. The idea, here, is to give such over-extended folks a measure of what Barry peddled last time so successfully – Hope.

The way the latest scam works is pretty straightforward: take the taxpayers’ money out out of one “pot” (in this case, from what’s left of TARP) and put it into another, then use that to “write down” the outstanding principal on qualified mortgages. The new “pot”, here, once again involves our old friends, Freddie and Fannie, so you know it’s all good. Heck, it won’t even add to the deficit….

There is, however, one minor little hitch involved, because TARP supposedly has about $135 billion left in its pot – while the negative equity that they claim they’ll write down is on the order of $720 billion. In other words, most of these underwater mortgagees won’t receive anything more than hope; their principal won’t be written down, and Barry knows it. It’s a great campaign ploy, though. Given his ratings and his performance to date, if there’s one thing Barry knows all about, it’s negative equity.

It might be less expensive if Barry just bought them all a hybrid car. After all, according to his fellow Democrats, buying a hybrid or – better yet – a plug-in car will help stop tornados. On the other hand, there’s one teeny problem with that strategery as well: people don’t like them. Maybe he should just buy everyone a toaster in exchange for their votes.
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Posted in: National