Post User Polls

Should President Obama take action to solve the problems in the foreclosure system?

The White House has largely stayed on the sidelines of the foreclosure mess, even as Congressional Democrats have called for a federal investigation and state attorneys general have launched their own probe into document irregularities.

By Abha Bhattarai  |  October 18, 2010; 6:31 PM ET  | Category:  National Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati  
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Foreclosures are controlled by state laws. The President has no power to halt foreclosures.

Posted by: dnjake | October 18, 2010 9:50 PM

Maybe part of the problem is too much government interference, and the wrong kind.

We need the government for market transparency, and to regulate the market so that transactions are made fairly.

We DON'T need the government to pick winners and losers, and we DON'T need the government to selectively bail out market participants, which leads people to value options based on the government interference.

Posted by: Benson | October 18, 2010 10:36 PM

He should only take action with the Banks and Mortgage Industry in prompting them to do what is right for the country and the American people.

You would think by now, the Banks and Mortgage Industry could ethically and morally treat human begins with a sense of respect. How much of their rogue greedy "gross" incompetence must we all suffer from. It's their problem, they created it, and now they need to fix it and fix it right!

Posted by: lcarter0311 | October 18, 2010 11:02 PM

Seriously? What a horrible question with leading answers. Come on WaPo, you are turning into MSNBC

Posted by: skkyskky | October 19, 2010 2:29 AM

Even the silly polls the WaPo conjures up are loaded.

The sum of 2 + 2 equals:

A. 3
B. 5
C. 42

Posted by: fury60 | October 19, 2010 2:46 AM

A nationwide moratorium isn't appropriate right now.

I can see a much stronger argument for halting mortgages that have been securitized -- especially if one of the banks has a history of using fraudulent documents to foreclose on properties. If the mortgage is held by a local bank that retains its mortgage portfolio, odds are that they can produce the mortgage note and a clear record of title. In those cases, a national moratorium would be counter-productive.

Of course, the number of banks that hold onto mortgages is probably a pretty small number. A suspension for some of the bigger banks might be in order.

Posted by: JPRS | October 19, 2010 3:06 AM

You have posed a question with two yes answers. The first answer is evidently positive. But the second is, too, because even though it starts "No" it continues "[President Obama] should take action so homeowners aren't unfairly displaced from their properties".

How is this NOT "tak[ing] action to solve problems in the foreclosure system"? Isn't unfairly displacing homeowners from their properties a problem in the foreclosure system?

The results have to be meaningless.

Posted by: parisreader | October 19, 2010 3:48 AM

Stick to your day job and try to make this newspaper survive because you have no future developing questionnaires....
What a convoluted, misleading question.

Posted by: pfuidear | October 19, 2010 4:25 AM

This question makes no sense. Only an illiterate person would answer this.

Posted by: depauldavid | October 19, 2010 6:01 AM

Count me solidly in the ranks of those who find this poll to be a poster boy for absolute nonsense questions. Does any rational human being know what they are agreeing to, no matter which question they answer? There is no logical sense to them whatsoever.

This is further proof positive that has sunk deeply into the abyss of sloppy journalism. It's bad enough that someone with the authority to create polls on the WaPo could come up with this. It's a devastating comment on the quality of the Washington Post that these questions either a) were never subjected to editorial review or b) survived layers of editorial review. No editor of a high school newspaper--much less the National Inquirer--would be allowed to get away with this.

What contempt the Washington Post has for its readers that these questions were presented to them as a legitimate poll.

I urge other readers to do what I intend to do: Submit this poll to the WaPo Ombudsman for his comments. He will, at best, offer some whitewash, but it's worth doing to establish a record of the Post's decline into third-rate status.

Posted by: tbarksdl | October 19, 2010 6:09 AM

The first answer is a no, not a yes. The second answer is a yes, not a no. Useless.

Posted by: msh41 | October 19, 2010 6:33 AM

What a horribly worded poll question!

-1 for WaPo Online...


Posted by: Chaspari1 | October 19, 2010 6:55 AM

Oh, wait:

"This is a non-scientific user poll. Results are not statistically valid and cannot be assumed to reflect the views of Washington Post users as a group or the general population."

No kidding... it's not even intellegible, much less scientific.

Fire the idiot who wrote this dreck.

Posted by: Chaspari1 | October 19, 2010 6:58 AM

The Yes answer gives the reason for a No answer and vice versa. Is this intentional or has the Post been hacked? Polls in general are already seen in a bad light, this should, slanted questions and such, this doesn't help.

Posted by: papasoji | October 19, 2010 6:58 AM

Heh heh - I made a spelling boo boo. I hope it was at least intelligible...

Posted by: Chaspari1 | October 19, 2010 7:00 AM

Has the Washington Post stooped to new lows by providing leading poll questions to obtain the answers/data that they want?

a) No - the Washington Post will only provide polls that support their point of view or agenda.

b) Yes - the Washington Post provides readers with fair scientific poll questions that further the left ideologies.

Posted by: BillyBob7 | October 19, 2010 7:22 AM

Eric Holder should be seriously threatening bankers and their contractors with indictment and prosecution instead of California citizen voters.

Freedom and justice for all? What a sad joke. What systemic fraud. What a dark future.

Thanks Washington Post for a truly Orwellian poll!

Posted by: ralphodavis | October 19, 2010 7:36 AM

What on earth kind of poll IS this?

YES - he shouldn't?

NO - he should?

Do you understand the English language?

Posted by: solsticebelle | October 19, 2010 7:54 AM

In the posts, we can see the real problem facing our country, which is basically self-confusion. Does any one really believe that all the banks just woke up one day and said to themselves, lets foreclose on all the outstanding mortgages? Perhaps, some where in here people had stopped paying on the loan. So, in the face of a nation wide meltdown, let's invoke state rights, the government is too big already argument, the newspaper asks dumb questions, let's pretend we don't understand, let's give everyone a free lunch, and what else can you think up to not make a decision. In the mean time, we have hundreds of thousands of home sitting on the roadside, rotting. We need to move on, and if there are some companies that have pursued a foreclosure illegally, then we have to trust that they will be found out and dealt with accordingly.

Posted by: rryder1 | October 19, 2010 9:22 AM

Obama's complete LACK OF ACTION in breaking up his Banking Masters criminal syndicate will be THE reason for the Dem's downfall.

He has done less than NOTHING to crack down on the systemic FRAUD now permeating every part of our financial world, and has only shown us that Dick Durbin was right--

"THE BANKS".. They own this place!

Posted by: misssymoto | October 19, 2010 9:27 AM

Lets assume all of these forclosures happen, What do the people who forclosed do with these properties, doesn't someone have to by them and if not what do the banks do with them. I would hope the banks would do everything in their power to keep these people in these homes.

Posted by: fmcoletta | October 19, 2010 9:34 AM

Foreclosures are a legal issue which should be supervised by regulators and judges. Congress is correct is calling for an investigation it the current practices of banks but halting all foreclosures would be too stringent a measure at this time.
This current situation in the foreclosure industry will undoubtedly bring with it a whole lot of law suits. In addition since apparently a lot of this paperwork is being done offshore Congress should investigate whether this is contributing in large part to the current mess.

Posted by: OhMy | October 19, 2010 9:54 AM

The clear problem is---

THE BANKS quite literally OWN and RUN our nation and both political parties are merely puppets put in place to serve the banks.

ACTIONS speak so much louder than Mr. Obama's eloquent but meaningless WORDS at this point.


Posted by: misssymoto | October 19, 2010 10:07 AM

Pres. Obama needs to stay out of it period. He is always trying to control or take over anything and everything. He is not a King, he is an elected official of a democratic republic. And it is high time he accepted that fact. And his wife, that also seems to think she is a Queen, needs to learn the same thing.

Posted by: Indi1 | October 19, 2010 10:19 AM

Since the states are investigating the foreclosure debacle, why should the federal government, the executive branch, get involved in this? Basic economics: The housing bubble like the "" bubble burst because as we all know, they were too good to be true. What has sustained such steep economic growth ever? NOTHING! Economies are cyclical. They go up, they adjust, stabilize, fall, adjust, stabilize, go up. If economist had done a better job advising the government, the Bush white house, they could have put some controls in place to make the housing growth more stable and not become a bubble. It's like no one learned from the burst. Too busy being greedy. Greed will not sustain you folks, moderation is how millionaires and billionaires make and sustain their wealth. Talk to Warren Buffet, Bill Gates, etc.

Posted by: ajackson3 | October 19, 2010 10:21 AM

CHART OF THE DAY: Forget The Foreclosures, Here's The Simple Thing That Is Crushing The Banks

A JPMorgan analyst suggests that the current maelstrom surrounding banks could cost the industry somewhere between $50-$120 billion, but arguably the fears here are being overblown.

But there is a clear threat that is very easy to see: the economy is weak and banks don't have the business volume to make a lot of money.

As credit specialist David Goldman observers, banks are still plowing more and more money into government securities -- the opposite of real banking activity.

What should worry investors, rather, is the simple question: how can the banks make money when no-one wants to borrow and asset returns are imploding? The absence of viable investment opportunities for the banks is illustrated most poignantly by one data point, namely banks’ accelerating purchases of Treasuries.

Bank purchases of treasuries spiked upward during the past several weeks just as the yield curve flattened and Treasury returns collapsed. It was one thing for banks to borrow at next to nothing and buy 2-year notes at 1%. The trade doesn’t make sense now. It is risky for banks to go far out the yield curve, but they seem to be doing so.

Posted by: misssymoto | October 19, 2010 10:46 AM

Banks have the burden of proof in foreclosures. They must prove that 1) they are owed money and 2) they have a proper lein on property before they foreclose. Any bank that cannot do that is incompetent in its record keeping and should not be rewarded for such negligent behavior.

Just as homeowners should be responsible for payments, banks should be responsible in their business practices. If banks cannot maintain proper record keeping because of their exotic financing schemes, then this should be an expensive lesson to them.

Posted by: AxelDC | October 22, 2010 10:24 AM

Obama, Congress & the Senate all voted to save Wall Street, AIG & all the major banks in the country.
Now, when Americans need a President, Congress & the Senate to do their job by protecting "We the People" they turn their back & pretend it's not their problem.
Yet these Major players can committ fraud on a level never seen before. Screwing the public, the pension holders and the Uited States and nobody not anyone of our Politicians can "man up" to adhere to the very principles in which this country was made, is appauling.
Our lawmakers continue their run to assist the billionaires and big business in this country as well as other countries.
Open trade only benefits the wealthy & big business by allowing them to ship our manufacturers to China & Mexico all while taking advantage of the very people in these countries to pad their bottom line. These are the very people we should be protecting but they continue to be exploited by big business and our Government in the name of prosperity???
NOT to mention the FRAUD from Appraisers, Accounting firms, Countrywide Executives, Rating companies, the Fed, the SEC our Pocket Politicians and the corruption that goes all the way to the top of Government. Everyone is on the take. Their hasn't been TRANSPARENCY for at least 50 years in our Government.
If those Government officials ran a company, approved the loans, the TARP money while purchasing all of those bad non conforming loans, they would have been fired. Yet they go unpunished, pay a nominal fee to the very establishments that allowed them to operate in the first place & walk away scott free??? There is definately a double standard in this country.
Democrats & Republicans say they all want change. Yet for the good of the people they stand on the sidelines while taking special interest monies & push the laws to favor the very people who are contributing to their election campaigns.
America used to be the land of the free. Now it's the land of the wealthy, politicians on the take & a Government that promotes the very thing we fought for to establish this great country.
Shame on everyone in Washington from the top to the bottom.
As I write this I realize it falls on deaf ears. Everyone has an agenda and that agenda does not incorporate the best interest of ALL the people but only those people willing to pay for those freedoms & luxuries which should be obtained for all of us.

Posted by: samueljkline | October 27, 2010 2:09 PM

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