President of the people

So President Bush is apparently putting a plan together to somehow freeze teezer rates to help out those people who should never have gotten the loans in the first place. CNBS

So who exactly does our President and our Congress represent - the idiots and the crooks in the real estate industry, OR those who are educated and fiscally responsible? Those who save and don't over extend themselves because they understand the value of money and hard work? Of course that is a rhetorical question because our President is an an idiot and a crook.

But how exactly does the math work for freezing the rate? Will the conversion rate in 5 years make up for the lost revenue during those 5 years? Mr. President, if it was originally a loan for 2 years at 2% and 28 years at 10% to pay off a total of say $500K, then what happens to the total amount due if you change 5 of those years from 10% to 2%? 7 years of 2% and 23 years of 10% will not get you to $500K at least using the traditional math. OR do you alter the adjustment rate from 10% to 15% in which case the "homeowners" are still going to lose there house in 5 years?

Apparently I don't understand the new math that our president uses. I am looking forward to seeing the plan on how this is going to work. I fear that the mortgage owners will be compensated using tax dollars in which case we need to vote everyone out of office. Democrat, Republican, whatever, if this measure goes through, our entire government needs to be replaced.

Oh and because the government is going artificially keep houses off the market, my ability to purchase a home at a reasonable price is reduced because houses that should be on the market are not. I didn't take out the crazy loan because I understood and my reward is that I will have to wait longer for the real estate collapse.

One note to those $50K a year families that took out loans for $700K - "HEY STUPID, IDIOT BAD MORTGAGE HOLDERS, YOU STILL AREN'T GOING TO OWN YOUR HOME AFTER 5 YEARS UNLESS YOU WIN THE LOTTERY SO YOU BETTER START BUYING THOSE MEGA MILLIONS TICKETS NOW!"