McCONNELL PUSHING THE PROBLEM AS THE SOLUTION

How in the HELL can ANYONE think this? Its like a bleeding patient in the hospital being cured by opening up another vein. WTF.

Under the mortgage plan, any ”credit-worthy borrower” could get a government-backed loan at 4 percent.

Another republican acting like a democrat. Garsh, wonder why they threw us out?

Michelle Malkin:

Question: Why should government be guaranteeing mortgages? Isn’t that what got us into trouble in the first place?

Question: Why should government be setting mortgage rates? Aren’t those supposed to be set by the market?

Question: How can Republicans on the one hand argue that Fannie Mae, Freddie Mae, and other interventions in the housing and mortgage markets were bad and then at the same time propose a doomed policy along similar lines?

Question: Have Republicans learned nothing from the housing meltdown? “Credit-worthy” borrower = anyone with a pulse. Who will pay when these borrowers default on their loans? Taxpayers will.

Question: Who will sell these mortgages? Probably the banks. What incentive do they have to ensure the credit-worthiness of borrowers, since they will bear no risk if the borrowers default?

I am getting very weary of so-called republicans bashing republican republicans. It is high time the enormous base takes the party back from these lick-spittle rhinos. If not, the party is dead. Michelle has a scathing indictment here and she is spot on.