And I thought it was illegal to buy votes in the US….

Apparently, the Obama administration is going to subsidize $75 billion in mortgage payments to nine million American households in the name of debt relief. So now we now have a government put-option aimed to help speculators in the event that they paid for too much on the speculation and can’t dump it off at a profit. Aside from the fact that the government is encouraging speculative behavior with this outrageous subsidy,  how important are nine million votes (mortgaged for 30 years) in national elections? For the first time in history, we might have a situation where the term on someone’s mortgage isn’t related to a household economic decision but a ploy to keep the allegiance of a group of voters.

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2 Responses to And I thought it was illegal to buy votes in the US….

  1. xinhui says:

    Given the short memory of the US population, they will forget the whole mortgage think in 6 months. if this is 2011, it might be the case of vote buying, but not 2009.

  2. fromatwoz says:

    xinhui, thanks for the comment. You are right that the people of US does have a short memory. But mortgage payments are something that they need to be paying for the whole duration of the loan, which might be 30 years. If the current administration offers to subsidize them while the other party won’t, then they are going to vote for the current guy.

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