Senator Lee hates 'bailouts' unless he is the one getting bailed. Mike Lee is outraged because the new funding bill is "Bailing out Obamacare." Imagine, helping hundreds of thousands of low-income Utahn families get desperately needed healthcare! One might think Lee would understand compassion. He was, after all, BAILED OUT big time!
When Lee was elected to the Senate after buying his luxury home in Alpine, at the height of the real estate boom, he couldn't make the payments. Homelessness for the Lee family? Hell no. JPMorgan Chase quickly agreed to a short sale (many people at the time were waiting years for short sale approvals) and Lee's home sold for nearly $400,000 less than the price Lee paid for it four years earlier. He and his family moved, with little disruption, a few blocks to another nice suburban home (conveniently, it was even in the same LDS ward).
Sen. Lee says that he made a down payment on the lost home, although he hasn’t said how much was involved. But if he paid 15 percent down and put it $150,000, for example, then the Senator from Utah was allowed to walk away from a quarter of a million dollars in debt obligations to JPMorgan Chase.
Let’s see: A troubled bank gives a sitting member of the United States Senate an advantageous deal worth hundreds of thousands of dollars. BAILOUT?
Fairness, compassion and decency would seem to be values Mr. Lee has forgotten, (not to mention the forgotten business values not taking on too much debt and the necessity of balancing a family budget) but then again Lee, is not like us--he is a United States Senator!
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Read more about Senator Lee’s questionable ‘short sale’