I’ve got a better idea than the president. How about just giving everybody a check for $100,000? Or maybe a million dollars? Why not? It’s about as realistic as this vote-buying scam. Even better: How about arranging a sweetheart mortgage deal like the one he got from his convicted felon buddy, Tony Rezko?
The Obama administration is trying to fix a stubborn drag on the economy by allowing all homeowners to refinance their mortgages at lower interest rates even if they owe more than their homes are worth, tackling a difficult issue of vital concern in states key to President Barack Obama‘s re-election.
Can you imagine the media reaction if in 2004 George W. Bush came up with some scam in order to try and buy votes? But mark it down: The Republicans will be portrayed as Scrooges for opposing this obvious attempt at buying votes in swing states.
It says enough that the White House understands what shaky ground this failed president in on that they’re reduced to such an obvious scam.
The administration proposal faces a major hurdle in Congress. The program would be paid for by a fee on large banks. The administration has tried unsuccessfully before to win support for assessments on large banks.
Those banks, of course, will just pass it on to their customers, the same people this clown purportedly wants to help.