Saturday, September 22, 2012

In Vegas, Romney outlines plan to ‘reignite the housing economy’

In Vegas, Romney outlines plan to ‘reignite the housing economy’: LAS VEGAS — Mitt Romney said Friday that he would roll back bank regulations as part of his plan to “reignite the housing economy” in this state, which has been hit particularly hard by the housing meltdown.

Romney, who has faced calls to lay out more specific policy details, said during a rally at the University of Nevada, Las Vegas that the key is to get credit flowing again and start selling houses.

“Now, there are also some things we have to do to make housing work right here in Nevada. We have to reignite the housing economy here so that home values start going up again.
Creating another asset bubble in housing isn't going to revive the economy and create true, sustainable economic health.  Only increased confidence that's widely diversified throughout the economy can do that.


Anonymous said...

Roll back "bank regulations"?
Honestly, what's left to "roll back"?

There are more than a few professionals that recognize that the already-existing regulatory environment was too lax.

The answer for unemployment is clearly to go out and form banks and hire lots of people. No matter how much you defraud investors (RMBS trusts), the government (SEC filings), and citizen homeowners (many, many fraudulent foreclosures), you know that friends in high places in government will bail you out and the chances of prosecution are so small you can flout whatever restrictions actually exist with complete impunity.

I'd really like to know which existing regulation would, if eliminated, lead to this nirvana state of "increasing home values". This statement is as nonsensical as claiming "HOAs preserve property values". Ha ha ha.

R. Stone said...

Greed and Debt: The True Story of Mitt Romney and Bain Capital
How the GOP presidential candidate and his private equity firm staged an epic wealth grab, destroyed jobs – and stuck others with the bill
By Matt Taibbi
August 29, 2012

...And this is where we get to the hypocrisy at the heart of Mitt Romney.
Everyone knows that he is fantastically rich, having scored great success,
the legend goes, as a "turnaround specialist," a shrewd financial operator
who revived moribund companies as a high-priced consultant for a storied
Wall Street private equity firm. But what most voters don't know is the way
Mitt Romney actually made his fortune: by borrowing vast sums of money that
other people were forced to pay back. This is the plain, stark reality that
has somehow eluded America's top political journalists for two consecutive
presidential campaigns: Mitt Romney is one of the greatest and most
irresponsible debt creators of all time. In the past few decades, in fact,
Romney has piled more debt onto more unsuspecting companies, written more
gigantic checks that other people have to cover, than perhaps all but a
handful of people on planet Earth.

Read more:

Mittens said...

There things that you can do to encourage housing. One is, don’t try and stop the foreclosure process. Let it run its course and hit the bottom, allow investors to buy homes, put renters in them...

Evan McKenzie said...

I would have more confidence in Romney's vague and over-confident policy prescriptions if he showed at some point the ability to run a successful campaign. Presently he is commanding a train wreck. And he botched his single term as Massachusetts governor sufficiently to discourage him from running for re-election. He will not come within ten percentage points of winning the state he formerly governed. How's that for a recommendation? And he will not win Michigan, his supposedly home state where the trees are the right height. Why does anybody listen to him on policy?

Vote For Romney! said...

Only a communist would diss the Job Creatorz™.

T. Onion said...,28672/

Report On Continuing Plight Of Millions Of Unemployed Americans Results In Round Of High-Fives At Romney Campaign Headquarters
July 2, 2012 | ISSUE 48•27

BOSTON—Bleak unemployment numbers released Wednesday reportedly sent a wave of applause cascading through the headquarters of Mitt Romney's presidential campaign, with staffers rejoicing at news that millions of jobless Americans will continue to face crippling debt and emotional hardship as the election draws near.

Calling the Labor Department report a "major boost" for the campaign, sources confirmed the grim economic data and deeply troubling descent of unemployed Americans into utter financial ruin spurred a round of high-fives among Romney aides, followed by repeated hoots, hollers, and whistles.