Joe Biden: $300 Billion to rescue bankers is John McCain’s solution

Joe Biden, democratic candidate claims Republican candidate, John McCain, proposes $300 billion to buy out the face value of mortgages. Wake up America. John McCain wants to save the bankers!

Strong democratic candidate Joe Biden said, “He’s going to spend $300 billion of your money so the banks don’t lose a single penny…That’s not bailing out the homeowner, you’re bailing out the bank.” Initially the McCain platform stated the government would pay discounted rates for failed mortgages. The Republicans have already changed its mortgage plan. Now, if elected, McCain will pay full value of the mortgages.

The full value of the mortgage means buying high and selling low. None of the homes in South Florida, in mortgage crisis, are worth the full value of the loans. Is it different in other areas of the country? I am not claiming to be a financial guru. I don’t know much about finances. I do know buying high and selling low means increasing my losses which equates to higher debt. John McCain keeps talking about how, “I know…” He seems to be preaching all the things he knows. I keep seeing we have a Republican president and our housing, banking, insurance and financial markets plummeting. The market is down 678 points today.

Senator McCain please enlighten me. Maybe it would help if Cindy McCain walked in my shoes for a day. The shoes of someone who is working very hard to make her rent payment because I am not afforded the benefit of homeownership.

Heather L. Ryan

About the Author Justice Seeker

Heather L. Ryan, R.N., C.L.N.C- Heather Ryan is a Certified Legal Nurse Consultant with 15 years of experience in the health care industry. Her expertise in reviewing medical records and assisting lawyers with the determination as to whether legal action should be taken provides an invaluable asset to the newsroom. Medical-malpractice, products liability, personal injury and workers’ compensation are some of the recent areas of litigation Ms. Ryan has focused her efforts on. A member of the Florida Justice Association, Heather maintains a long list of certifications and credentials to support her areas of expertise and stays up-to-date with her clinical knowledge working as an emergency room/trauma nurse, at a Level 1, Adult/Pediatric trauma and teaching institution in South Florida.