Wednesday, October 19, 2011

Welcome to Pottersville

Mitt Romney thinks that what will get us out of the real estate bust and the staggering number of foreclosures is to have more foreclosures.

“As to what to do for the housing industry specifically — and are there things that you can do to encourage housing? One is, don’t try and stop the foreclosure process,” said Romney. “Let it run its course, and hit the bottom, allow investors to buy up homes, put renters in them, fix the homes up, and let it turn around and come back up.”

So, aside from the mindset of the villainous Mr. Potter from It’s A Wonderful Life (“You’re worth more dead than alive!”), who does Mr. Romney think are the investors who are going to snap up these homes? And who are the people who are going to rent them; the people who got foreclosed?

In his defense, this is how Mitt Romney made his fortune: swooping in on struggling companies, laying off a lot of people, and then selling off what was left to the highest bidder, all while raking in a hefty fee. So he’s only doing what comes naturally: once a vulture, always a vulture.