Obama to Pay Off Second Loans

Yes, the great collectivist leader Barack Obama has decided it is in the best interest of the whole to pay off the second loans of those who were irresponsible and overextended:

Amid the dozens of pages of details of the Obama mortgage modification plan, one new element will likely not make it into the headlines because itís something of an afterthought.

It has to do with second liens, that is piggy back loans or home equity lines of credit.

Again, for those of you who have been responsible, you will now be required, through your taxes, to pay for the overspending if your neighbors. All of who were responsible are really Obama's fools...and if you voted for him on top of that, well, you get what you pay for.

BTW: We were alerted to this by a self-described "puke liberal" who is really getting PO'd about Obama's policies.

posted at 23:53:27 on 03/04/09 by clearpolitics - Category: Economics - [Permalink]

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