Second Presidential Debate

I wanted Barack Obama to be more responsive to the questions and change up his stump speech answers.
I wanted John McCain to stop with his childish, disrespectful attitude.

Oh well.

I don't understand why I haven't heard more about how stupid John McCain's plan to help the foreclosure people is.

He proposes that the United States government should buy people's mortgages directly and then lower the value of the home to the current market value and refinance the loan.
That sounds stupid to me.
I understand it to mean that if I bought a house for 200,000 and its now worth 150,000, the government will buy my mortgage, then they'd lower the price to 150,00 and put a 30 year fixed loan in place that I'd pay on.
1) What about in 20 years when I sell for 300,000...I'm making 50,000 extra dollars that the government put up on my house. If I kept my original loan and house value, I'd make 100,000, but since the government got in on it, I'd make 150,000.
2) Sounds suspiciously like that REX Agreement. See my previous post on the Rex Agreement.
3) What about all the people who paid a normal price for their homes, watched the value rise and fall. Too bad for them.
4) It would cost an additional 300 billion to the bailout bill that already passed. And parts of it are already included in the bailout bill as I understand.

Anyway - based on what I know right now, it sounds like a completely rotten idea that I can't imagine why people aren't jumping all over.
I think its a great idea to help the mortgage owners...consider paying for refinancing, but don't decrease the house value.

Sigh.

Obviously, times are very precarious so I've kept my eye on CNBC mostly. I can't help but see some of the crap the McCain/Palin people are doing, but I'm going to try and mostly ignore it and definitely not write about it unless its imperative.

I only want to hold onto my job.