Edwards Slams Bush Mortgage Plan

During Hometown Visit, Democratic Hopeful Says President's Proposal Doesn't Go Far Enough

(CBS/AP)  Democratic presidential candidate John Edwards on Thursday said President Bush's plan to help homeowners with rising mortgage payments doesn't go far enough and he would freeze interest rates for seven years.

"What we've got to do is not just help a few, we need to provide help for everybody," Edwards told about 900 people at Walhalla High School near his hometown in this early voting state. "We need to make refinancing options available. I do think it's a good idea to freeze these rates. I'd do it for seven years. We also need a national rescue fund to help these families."

Bush on Thursday announced a plan to freeze interest rates for five years for hundreds of thousands of strapped homeowners whose mortgages are scheduled to rise in the coming months.

Hillary Rodham Clinton also criticized the plan, saying it was designed to "help as few homeowners as possible" while proposing a moratorium on foreclosures, an across-the-board rate freeze and reporting requirements for servicers and lenders.

“America needs a plan that matches the scale of the crisis, and President Bush has failed to deliver it," Clinton said in a release. "But that is what happens when you are more interested in protecting corporate interests than struggling families."

At an earlier stop at Edwards' childhood home, the former North Carolina senator said the president had damaged the United States' reputation worldwide.

"I do believe George Bush has bullied and acted in an arrogant way and it has damaged America's standing in the world in a serious way and I intend to reverse that," Edwards said.

He was scheduled to campaign in Charleston later Thursday with musician and actor Harry Belafonte, also a harsh critic of the Bush administration.

Belafonte compared the Homeland Security Department to the Nazi Gestapo and attacked the president as a liar. During a trip to Venezuela last year, he met with socialist leader Hugo Chavez and called President Bush "the greatest terrorist in the world."

Edwards campaigned much of the day with his parents and helped open Oconee County's new Democratic Party headquarters, arriving to the Bon Jovi song, "Who says you can't go home."

Edwards' mother said her son's talk about his down-home, rural Southern roots is hardly political rhetoric.

"He's telling the truth. He grew up in a working class environment, with working, everyday people," said Bobbie Edwards, 74. "When John talks about his background, it's true."

Edwards said he was not worried an AP-Pew poll released this week showed him in a distant third place behind front-runners Clinton and Barack Obama. The poll also showed that health care was a top concern among Democrats in South Carolina, and the majority of likely primary voters said the New York senator would do the best job improving the system.

"The vast majority of South Carolina voters have not decided what to do yet. And what will happen is they will understand I have the first and the strongest universal health care plan that is central to what I want to do as president," Edwards said. "My approach is different. My approach is to shake up Washington and take on insurance companies and drug companies, which I've been doing my whole life."

[pmorlan]

What a shame that you tried to slant your piece to try to make Mr. Belafonte look outside of the mainstream. Mr. Belafonte has had a very distinguished career. But of course you know that, don''t you? Perhaps you were just trying to knock Edwards again through Mr. Belafonte?

[avraamjack]

-----CLINTON SLEAZE FATIGUE WILL INVIGORATE GOP, DISPIRIT DEMOCRATS AND SINK DEMOCRATIC TICKET-----
It is possible that Senator Clinton is the best candidate. However, even though many may like the policies that Senator Clinton proposes, they should also consider her record, just as Senator Clinton insists.
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The last Clinton Administration, when faced with the fact that protection rackets where assaulting, torturing and murdering people with poison and radiation, chose to avoid its responsibilities to incarcerate the criminals and to protect the citizenry.
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Instead, they made a deal with the criminal gang stalker protection rackets to leave them alone and to consequently abandon the citizenry.
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Do we want a President who sells out the citizenry for votes?
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Do we want a President who sends a "crime does pay" message to society?
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Would you vote for a President who signed nonaggression deals with the KKKlan or the Nazi party? Gangs that torture with poison and radiation are much like the KKKlan and Nazi Party.
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We do not need a sellout President. We need a principled leader President.
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If you are one of the few who do not know what the above refers to, do a web search for %u201Cgang stalking%u201D to see the tip of the dirtberg. Please do it before you decide to reply to my post. Here let me make it easy for you: http://www.google.com/search?hl=en&q=%22gang+stalking%22.
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[ofbyfor1]

Has anyone here who is dissing the borrowers considered that your OWN property values will plummet if there are multiple foreclosures in your area? I am 14 years into a 30-year fixed and I understand the feelings of responsible borrowers who feel shafted that irresposible borrowers will be let off the hook. However, nobody benefits by multiple foreclosures. I have no sympathy for opportunistic flippers or sleazy brokers who misled their clients. I have heard some serious horror stories about brokers even going so far as forging borrowerrs'' names on some secondary documents. That is reprehensible and they should have the book thrown at them and serve jail time for that. And I also have no sympathy for people who are trying to buy McMansions when they could live in a smaller place affordably. But I do feel bad for middle-class people who were scammed by dishonest brokers when they were trying to buy a first home, So much for the American Dream...

[b-easy63]

Fvck those people with bad loans and the inability to pay them. this is the risk they took when they went for them. if Bush can help them, then freeze my taxes and freeze my property tax and if Edwards and Clinton want a piece of this--they can help me pay my 2000.00+/month mortgage. Because if you help these Americans, then the only fair thing is to help us all. There is a reason these people have subprime mortgages--MOST can''t get a fixedrate conventional loan due to poor credit or low income. In other words--they never should have been allowed to buy.

[ontheleft]

I see this from the perspective of someone who wants to buy a home in the next few years. All this risky lending has pushed up prices for buyers. 5 years ago in Connecticut you could buy a nice house for $200,000. Today that would only get you a fixer upper.

[goldesprit]

John Edwards is saying what people need to hear--and he means it--and he is right!

He wants to do the right thing with interest rates--AND he knows the "health insurance" folks need a drastic change and confrontation--no more "sickos" for the profit of a few.

[brianbwb-2009]

"We also need a national rescue fund to help these families."

No we need a force majeure declaration by the government, nullifying any provisions in the contracts that make them predatory.

What Edwards proposes is to pay off the loan sharks, which will only create more sharks and more victims...

[mitywhity]

What a typical socialist response, "...we need a NATIONAL RESCUE FUND", stupid *** always want to take from me to help the doofuses who signed up for these trash subprime loans in the first place. Home ownership is the "American Dream", not an American right. The difference between liberal socialists and conservative capitalists is that conservatives actually believe a man is responsible for learning what to do and doing it himself instead of giving him everything he needs. What would these people learn form their mistakes who obtained these loans? Nothing! They would continue to make bad decisions and teach their children the same irresponsibility. The foreclosure rate is usually a little over 1% a year for these subprime loans and now it is only a tad more than 2% - big deal, it just proves that too many people are in homes when they should be in apartments. They need to get educated, save their money and get in better position before they buy a home. These homes usually fall into disrepair and disgrace the neighborhood as well.

[rlenham-2009]

People make bad decisions based on optimism and not reality... and then the government should bail them out? I don''t think so.

[excoachken]

The most intelligent candidate makes a logical response to the weak "plan" of the Cowardly Cowboy. What a great President he will make!

[nexgen99]

The motto of the Democrats. "Become Hooked on Social Programs". Stupid people make stupid mistakes. That does not mean I have to pay for their stupidity.

[excoachken]

to nexgen99 So, since you "don''t have to pay" for stupid ideas, have you have stopped paying taxes to support the Cowardly Cowboy''s war?

[gkc99]

This plan does nothing--it''s voluntary for lenders! The same lenders who could drop interest rates rather than foreclose any time they want!

The plan does one thing--it exposes what a weirdo Bushit has as Treasury secretary. Paulson stands there on TV blinking like a mole in the sunlight, looking for all the world like a retarded gopher. This man controls our treasury?

[nexgen99]

exCoachKen..... have you stopped paying taxes to support the democrats illegal alien invaders who they want all of us to support?

[mrmazerati]

I''ve met John Edwards and he''s the right man for the job.

[ov442]

"We need to make refinancing options available. I do think it''s a good idea to freeze these rates. I''d do it for seven years. We also need a national rescue fund to help these families."

"Edwards Slams Bush Mortgage Plan!!!"
Sounds like Edwards was polite, said it was a good idea but would go farther.
How is that "Slamming" the plan?

how about "Edwards Picks up plan SLAMS it down on the ground, Stomps on it, Says its a pile of wasted trash, written by idiots and wouldnt do anything worthwhile except for helping the rich!!!" and toss in some swear words
THAT would be ''slamming'' it.
Or how about "Rips" "so n so RIPS so n so." = "Tears open flesh, burns with hot poker and pours salt in it then shoves off a cliff" - when usually they say that when someone politely disagrees with another.
the media are idiots.

[mudrose-2009]

I think Edwards should put his head between his legs and amuse himself. He''s gonna need to practice because Lizabeth ain''t gonna be around forever. The man''s a dolt. We don''t need to bail out irresponsibile people. It''s not good for government, it''s not good for the economy. Edwards another BIG NANNY GOVERNMENT SOCIALIST. Take a hike dimwit.

[l8c6]

Clinton said in a release. "But that is what happens when you are more interested in protecting corporate interests than struggling families."

The constituency is private wealth, number of shares owned, not individual votes. So long as each individual vote exists to some degree, the right wing ruling class will have to play on the prejudices of the people dividing their sensibilities with single issues, religiosity, welfare, taxes, social security.

Make the people believe that the person getting food stamps is what''s causing the problem with declining wages. Yeah, that lazy freeloader that won''t work for a living and put in more hours for less wages, less to no healthcare, retirement, vacation, sick leave.

Those pushing for workers to work more can take a sabbatical and time off when they need it. The elite global corporatists make the rules.

[cathomas71]

These Moron homeowners got in way over their heads, why bail them out?

[gkc99]

One thing you can count on--Bushit''s billionaires will make out well from anything coming out of the Darth Bushit admin.

[infidel_us]

Oh, great.....Bush freezes for 5 years and Edwards'' ''brilliant'' alternative plan would freeze for 7. What a loser!!!

[ov442]

"We don''t need to bail out irresponsibile people. It''''s not good for government, it''s not good for the economy" --Posted by mudrose
Why do you say that?
Our Government constantly bails out corporations for mismanagement and fraud and irresponsible actions when they always do it for one reason profits for themselves.
Whereas individuals far and wide succumb to financial woes they are never in control of and never penalize themselves like this out of a attempt at profits. The speculators that walked away from their mortgages are Not being bailed out here. So you cant include them.
Besides corporations when they get bailed out by the government also skip town with a billions dollars in pension funds that the workers earned over decades.
And you think bailing out consumers which account for 75% of the GDP is bad for hte economy? You have no idea what youre talking about.

[strugglingto-2009]

hey all you out there that thinks helping the struggling homeowners is a bad idea. Some of us out here are truly hard working honest people who have fell into the slump because they are trying to pull the weight of taking care of people who are getting something for nothing...food stamps, welfare, free housing (through section 8 and other sources). I work hard and for the state as a matter of fact and I resent the fact that when I go to the grocery store even when I had 2 children living at home that I had to take a calculator and coupons and the woman in front of me is dressed in tommy hilfigher and using food stamps to pay for $300 and $400 worth of food with money left over. So get off your high horses because chances are i and others like me are supporting you too.

[hillaryin08]

What about 95% of the home owners not in default? Shouldent we be the ones getting rewarded for paying our bills?

[jowand]

I''''ve met John Edwards and he''''s the right man for the job.
Posted by mrmazerati at 08:41 AM : Dec 07, 2007

Just another scum sucking bottom feeding lawyer.

[hungry1968]

Whereas individuals far and wide succumb to financial woes they are never in control of and never penalize themselves like this out of a attempt at profits.

Posted by ov442 at 09:15 AM : Dec 07, 2007


They''re not in control of their own finances? There was a single mom on ABC news who was making $32,000 a year, and she bought a house for $175,000 and it was being foreclosed on. She was obviously living way beyond her means.

When does personal accountability for your own finances come into play?

[omega39-2009]

They''''re not in control of their own finances? There was a single mom on ABC news who was making $32,000 a year, and she bought a house for $175,000 and it was being foreclosed on. She was obviously living way beyond her means.

When does personal accountability for your own finances come into play?
Posted by hungry1968

Well somebody had to say yes to a loan that should never have been made. It used to be that banks demanded housing not exceed 30% of you income, over the last few years, that has been increased to 70%.

[omega39-2009]

These Moron homeowners got in way over their heads, why bail them out?

Posted by cathomas71

Ultimately this isn''t a bailout for the homeowner, it is a bailout for the banks and investors that were going to see the value of the security on the loans they made tumble.

[stevex47]

mudrose,
"I think Edwards should put his head between his legs and amuse himself."

No thats what you right wing nutjobs do in mens stalls, and chase congressional pages on the floor of congress. America''s tired of your hypocrisy''s and lies.

[jersupporter]

Only one candidate has always spoke the truth and that candidate is John Edwards. Despite many American people remaining naive and not understanding what and where the candidates stand on issues, many will still vote for the most trustworthy candidate - John Edwards. He is the only runner who can bring America back together and restore credibility to this great Nation. Do some homework citizens and then make a choice. Do simply vote for a candidate based off of party affiliation, *** or race is irresponsible and foolish. Get back to school and do some homework.

[marcodele]

Isn''t it funny how the straight, moral, family values conservative neocons keep focusing on other people''s crotches?

[jersupporter]

mudrose - please give some solid evidence when you post and do not just state your biased and unresearched blasphemy. Stupid is, stupid does will get you in trouble every time. Name calling is always the first response for uneducated people and based off of your posts - it becomes quite obvious.

[dogsoul]

You liberals with your ''evil corporations'' mantras are truly ill informed socialist sheep...

Look, I didn''t WANT to have to pay a higher monthly mortgage than people who chose to go with adjustable ARMS - I didn''t WANT to have to buy a small 2 bedroom condo - but I DID. I paid MORE money for LESS home so that I had the security to guard against precisely what we''re seeing now... Look, all those people (and there were many) who bought early or bought on these low/no interest loans & ended up flipping their houses to make a killing... I don''t see THEM stopping by MY place offering to share THEIR wealth with ME... any why SHOULD they? THEY took the risk, THEY were in a position to take advantage - heck, I was just starting out - so I REALLY got screwed - I had to pay a MUCH HIGHER relative price for my little place than folks who bought 5, 10, 15 years earlier - and that went right into THEIR pockets... Anyone ever drive around or peruse the housing ads in the last 15 years & ask yourselves - My GOD, who BUYS these houses at these prices? Well, many of them are now in foreclosure begging for bail outs... they overbought - and don''t want to face the consequences of their own actions...

[imissamerica]

Strugglingto, you stated how I feel. My husband and I both work, pay our bills and have to watch how we live. I hate going to the store and worrying about how much it will cost and trying to live cheaply. Yet others are just like you said spending 300 and 400 dollars on stuff like it is nothing. They just swipe the food stamp card and walk off. I have to worry that if it comes to more than my budget where can I cut a corner to make up for it. We also have 2 kids at home and the government doesn''t offer us any help.

[dogsoul]

Oh please, John Edwards is nothing but a smug cardboard cutout of an ambulance chasing liberal socialist lawyer... he''s as fake as they come - MUCH worse than Gore, Kerry - heck even HILLARY! You may not like George W, but he IS who he is... John Edwards is a ball sack

[imissamerica]

One more thing , not only are they dressed in the best as well as the kids but the purse that holds that food stamp card is Coach, Dooney & Bourke etc. How do they do it?

[marcodele]

JERSupporter: Asking Mudrose for factual evidence is like asking Bill O''Reilly or Rush Limbaugh if they are willing to debate a subject. The neocon movement doesn''t need facts or figures. They blurt out their hatred, and it is therefore fact.

[imissamerica]

I8c6,

I don''t hold it against the ones on welfare who actually need it. There are some that do and I would help them all that I could. People do fall on hard times and that is why help is there. It is the ones who are on the womb to tomb life plan that bugs me. You see these people who are capable of working but as soon as they are born the parents sign them up for SSI or whatever and it becomes a cycle. That takes from people who have real needs and who actually worked to pay these benefits in.

[dogsoul]

"Yet others are just like you said spending 300 and 400 dollars on stuff like it is nothing. They just swipe the food stamp card and walk off. I have to worry that if it comes to more than my budget where can I cut a corner to make up for it. We also have 2 kids at home and the government doesn''''t offer us any help. "

Well, you have to realize that those individuals sold their vote to liberals in exchange for that money - unfortunately however, liberals puchased those votes with EVERYONE''s money... so not only does it cost you, but often times those fine folks on welfare raise generation after generation on welfare, many having 4, 5, 7 kids or more - often with multiple and/or absent fathers... so they raise children that are not only a burden financially, but also represent a good chuck of the crime element in today''s society as well...

[mudrose-2009]

JERSupporter: Asking Mudrose for factual evidence is like asking Bill O''''Reilly or Rush Limbaugh if they are willing to debate a subject. The neocon movement doesn''''t need facts or figures. They blurt out their hatred, and it is therefore fact.
Posted by marcodele

Oh, I don''t know. I''ve repeated the facts so often it''s rather redundant. The guy''s an ambulance-chaser. He has a house that is 30,000 square long and he tauts his feelings for the poor. Wow, if that isn''t right up there with that other elitist Al Bore, I don''t know what is. Facts, you want facts, go look them up. Hahahah.

[marcodele]

I guess the fact that John Edwards worked for a living to acquire his wealth is against neocon values. Apparently you''re just supposed to drink booze and snort coke until Daddy buys you an oil well, then a baseball team, then a state house, then a white house.

[oscarez]

I think mudrose is green with envy!!!

[mudrose-2009]

I think mudrose is green with envy!!!
Posted by Oscarez

Yeah, imagine all the people in the shacks across the street from him. I''ll bet the love the view.

[dogsoul]

"The neocon movement doesn''''t need facts or figures. They blurt out their hatred, and it is therefore fact. "

Liberals really crack me up... anything that goes against the liberal grain is now labeled ''hate'' - you liberals really DO fall right in line dontcha...

Besides, it''s most assuredly liberals who fear facts & figures... EVERYTHING is filtered thru the liberal word police - political correctness, crime stats, global warming, terrorism, homosexuality.... I mean, my GOD - try to have an actual conversation about these things that isn''t simply a fawning regurgitation of the accepted liberal mantra & they''ll literally shout you down, usually repeating their latest fad word - ''hate''...

Liberals - so phony, they often disgust themselves

[strugglingto-2009]

Well, I can see why AMERICA is in the mess we are in. I have been reading the notes out here and they are not comments, you guys are taking the time to sit and argue about a very delicate subject. Who is wrong and who is right. But AMERICA is always prouded itself on saying we were fair and I think that is what people are asking for. No one wants anything for nothing. I have heard nothing in any of Bush''s or the others speeches on mortages state that their are going to be people who walk away with a house they did not pay for, I have heard them say let''s help. I am just concerned that the help is not being spreadly evenly or fairly. We say we are the land of the "free and the brave" but really we are all being held hostage by people who are afraid to stand up for what is right. Just like everything else when you take God out of the equation things happen. He will not allow man to run this world only lead people to better ways of doing things. He said that he was the beginning and the ending "Alpha and Omega" so man will not prevail over him and his word will not return VOID, before that happened he will destroy this world. Look around people it is TIME! I would love help but just like everything else HONEST, HARDWORKING FOLKS get the opportunity to take care of the folks who have the backing and the guts to bet the system and have a good night''s sleep. this might slow me down but it won''t stop me.

[jersupporter]

dogsoul and mudrose are simply convinced that their hatred is for the common good. Actually thier lack of accomplishments (family, work and social) has totally destroyed their mental being and therefore they will attempt to take things out on all the others. What a shame for these Needy People. Your perceived hardships are laughable, but can be cured. It is called service to community and country. Of course you know nothing of those - your biggest accomplishments are pissing in the wind and then complaining when it hits you right in the face.

[strugglingto-2009]

To:THEmagic07
Here I go again, sound thing different subject. You can''t change what someone''s past is only what they are striving for in the future. So his parents were Muslim, the US is taking God out of everything anyway so why are we discussing faith and religion with this man. Don''t hate him because he is "Black" but support him because he stands for something. Because "if you stand for nothing you will fall for anything". (Ex:Bush and his manipulation of votes for two terms).
That sounds like all the politican promises I have heard in the 40+ years I have been listening to campaign. Always a lot of promises and no fulfillment. I guess they just want to be elected and what better way "tell the people what they want to hear". Life as Bush for President has not been a picnic, only for him. He is killing our boys and girls by sending them overseas to be feasted upon by the Iraq''s for no reason. Those people don''t even want our help moreless need it. They have been doing this for ever, it is awful but it is the truth.

[dogsoul]

"dogsoul and mudrose are simply convinced that their hatred is for the common good. Actually thier lack of accomplishments (family, work and social) has totally destroyed their mental being and therefore they will attempt to take things out on all the others."

HA! Thanks for reminding me - I forgot about the liberal tendancy toward not just hypocrisy... but massive, unmitigated, wild hypocrisy.... numbnuts starts out by criticizing ME for, of course, ''hate'' - and THEN proceeds to spew toward ME.... you guessed it folks - ''hate''... God, you really DO make it too easy for me.

Liberals - Do as we say, not as we DO... or say... um, or think... just do as we say ok!?

[dogsoul]

"I guess the fact that John Edwards worked for a living to acquire his wealth is against neocon values. "

HA! You call that WORK!! He was precisely the kind of ambulance chasing lawyer that sat back & raked in the profits by launching unsubstantiated lawsuits against deep pocket organizations like hospitals forcing insurance costs SO thru the roof that WE''RE all paying the price for it.... WE''VE PAID for John Edwards to become a multi millionare... he''s the scum of scum... and now that HE''S got everything he''s every monetarily wanted in life - at our expense - now he wants to be President... and somehow he''s put on the ''I''m for the little guy'' lawyer charm... sure he wants to buy votes with free medical care, free this, free that - he''s USED to stealing money from people who REALLY earned it... ya know, by saving lives???

Liberals - demonizing doctors while glorifying the lawyers who sue them

[mudrose-2009]

Liberals - Do as we say, not as we DO... or say... um, or think... just do as we say ok!?

Posted by dogsoul

Can''t they do nothing. I don''t wanna follow around a bunch of planet of the ape dogmatists who do nothing to the tune of an 11% rating and tanking. Do-Da Do-Da Do-Nothing''s. Love Big T/itty Government. Wa, Wa, change my diapers. It''s for the common good. Well, hey in that case....