'We can't wait': Obama to use executive authority to boost economy as Republicans dither on jobs

[kpete]

'We can't wait': Obama to use executive authority to boost economy as Republicans dither on jobs

..........


With his jobs plan stymied in Congress by Republican opposition, President Obama on Monday will begin a series of executive-branch actions to confront housing, education and other economic problems over the coming months, heralded by a new mantra: “We can’t wait” for lawmakers to act.

According to an administration official, Mr. Obama will kick off his new offensive in Las Vegas, ground zero of the housing bust, by promoting new rules for federally guaranteed mortgages so that more homeowners, those with little or no equity in their homes, can refinance and avert foreclosure.

And Wednesday in Denver, the official said, Mr. Obama will announce policy changes to ease college graduates’ repayment of federal loans, seeking to alleviate the financial concerns of students considering college at a time when states are raising tuition.

.............

An Obama administration official says President Barack Obama will announce new rules Monday to help homeowners with little or no equity in their homes refinance their mortgages to avoid foreclosures.

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http://www.nytimes.com/2011/10/24/us/politics/jobs-plan-stalled-obama-to-try-new-economic-drive.html?_r=1
http://www.dailykos.com/story/2011/10/24/1029465/-We-cant-wait:-Obama-to-use-executive-authority-to-boost-economy-as-Republicans-dither-on-jobs?via=siderec

[valerief]

1. And jobs? Where are the jobs, Mr. Boehner? nt

[liberal N proud]

2. Did you hear that?

Republican heads exploding all around.

[liberal N proud]

3. dupe

[SpiralHawk]

4. 1% Republicon shirkers are 'busy' sucking cigars on the golf course

- can't be bothered to do a damn thing about jobs for the 99%.

[xiamiam]

5. allowing bankruptcy judges to adjust mortgages to current values is the only thing that will stop

this foreclosure mess ..this program is more bull..who is advising him?..this will be another one percent effective program that he is pushing...who in the hell is going to qualify for this?..what a joke..giving bankruptcy judges the power to write down mortgages was in place until 2005..it is the only thing that will stop this..leading economists recommend it. Obama continues to ignore it..Really. Who will qualify for this?..what a waste of time and energy.

[Nuclear Unicorn]

6. self del

[tavalon]

7. Wow, this is great!

[Javaman]

8. Finally.

what I would like to know is, how much power does the Executive Action have?

[totodeinhere]

9. Huff Post: New Obama Foreclosure Plan Helps Banks At Taxpayers' Expense

http://www.huffingtonpost.com/2011/10/24/foreclosure-plan-obama-harp-refinancing_n_1028554.html

According to this article President Obama's new rules for federally guaranteed mortgages do not address the core problem.

But a key new condition in the plan would shift the financial liability for refinanced loans from Wall Street banks to the American taxpayer. And by focusing on lower payments, the program does not confront what housing experts view as the core problem in the foreclosure crisis -- borrower debt that exceeds the value of one's home.

Take it for what it's worth. The article does make sense to me. But I do have to say that Huff Post has taken an obvious turn to the right. I also read a lot of right wing stuff in the comments section on the site now.