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Obama: Treasury should "study" HOLC

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That's not to hard to parse, is it? Obama's speech from the Senate floor at Big Orange:

We should encourage Treasury to study the option of buying individual mortgages like we did successfully in the 1930's.

Well, alrighty then.

Too bad Obama couldn't quite bring himself to mention the acronym, HOLC, so people know what his cryptic reference means...

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tartu's picture
Submitted by tartu on

Not enough time has passed to forget that Hillary brought up HOLC. In a week or two when everybody forgot that, it will appear as Obama's entirely original and incredibly thoughtful idea.

ElizabethF's picture
Submitted by ElizabethF on

politician would go to that site and write.

I have come to loathe both these hypocrites.

]Obama will just laugh at the idea. He can invent something so much better for his social engineering project.

pie's picture
Submitted by pie on

rocks.

She'll be fine.

TonyRz's picture
Submitted by TonyRz on

We should encourage Treasury to study the option of buying individual mortgages like we did successfully in the 1930’s.

We should[1] encourage[2] Treasury to study[3] the option[4] of buying individual mortgages like we did successfully in the 1930’s.

And what's this "we" shit? Can't he bring himself to say the "F" word (FDR), either??

Submitted by lambert on

But with the weak tea and thin gruel on policy, invoking FDR doesn't mean a whole hell of a lot.

[ ] Very tepidly voting for Obama [ ] ?????. [ ] Any mullah-sucking billionaire-teabagging torture-loving pus-encrusted spawn of Cthulhu, bless his (R) heart.

gqmartinez's picture
Submitted by gqmartinez on

So does he not really believe in it or is he just saving stuff to try to save his presidency? Neither is very comforting.

Valhalla's picture
Submitted by Valhalla on

could he just commit to something, for once?

I hate all the 'study the problem' crap too. How appropriate that most college educations and the presidential term are both 4 years -- 'cuz seems like studying is about all we'll get for the next 4 years.

And he hasn't even committed to that much -- he just wants to 'encourage' Treasury to study HOLC/HOME.

But I'm not entirely surprised, since the bill itself asks Treasury to 'encourage' mortgage servicers to use existing federal programs to 'minimize' foreclosures. Obama's notorious for picking up bits and pieces of whatever discussion is floating around him (or beneath him, I suppose, in his world) What kind of language is that for legislation? Why even bother? Except to give cover for Congresspeople to blah blah blah about how this bill is SO much better than the House bill that was rejected because it addresses foreclosures, when in actuality it's just one big long press release from the Ministry of Government Propaganda sweet-wrapping the same mud sandwhich voters have rejected already.

amberglow's picture
Submitted by amberglow on

someday maybe suggesting that someone explore all the possible options available--he's being "prudent" like Daddy Bush, i guess (another weak and passive loser)

BDBlue's picture
Submitted by BDBlue on

At least that's often the result in Washington. Cheney used this method within the Bush Administration - he'd send people likely to oppose some plan (e.g. torture) off to study it or come up with a policy to sideline them.

When Congress or the Administration don't want to do something, they study it to death.

Julene's picture
Submitted by Julene on

Obama poked fun at McCain for proposing a commission to examine the crisis, calling that "the oldest Washington stunt in the book."

"This isn't 9/11. We know how we got into this mess," Obama said. "What we need now is leadership that gets us out. I'll provide it, John McCain won't, and that's the choice for the American people in this election."

I know. I know. We shouldn't use his own words to understand how he'd lead or anything.

Or maybe it's a "he was against studying the problem before he was for studying the problem".

Submitted by lambert on

Good catch.

[ ] Very tepidly voting for Obama [ ] ?????. [ ] Any mullah-sucking billionaire-teabagging torture-loving pus-encrusted spawn of Cthulhu, bless his (R) heart.

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