Andrew Cuomo is a traitor.

I hate it when people throw that word around, its lost so much of its meaning. But in this case, its entirely true.

I've said it before and been accused of yelling it in the office. Now is not the time to try and achieve political gains, especially when you don't know what you are talking about. Any politician who uses the current crisis in the mortgage industry as a way to make a name for themselves or play political leapfrog over rivals is evil. There are good people facing serious hurdles paying their bills. There are hard working Americans, who have never missed a payment, suddenly facing lates on their credit report and the potential for foreclosure. There are countless workers in the mortgage, construction, and real estate industries facing smaller paychecks or unemployment. And these things spread.

Now is not the time to "pile on".

New York Attorney General Andrew Cuomo is coming out with both barrels against Fannie Mae, Freddie Mac, Washington Mutual, and the mortgage industry in general. And he's doing it with press releases and political maneuvering. You think there was a "credit crunch" going on now? Wait until Fannie, Freddie, WAMU, or some other large national outfit just decides to stop lending. That's what has already happened in the subprime market and with some smaller prime players. Just wait until the big boys in the conforming market follow suit. And you think getting a loan was hard now and foreclosures were bad.... if this kind of thing continues, you haven't seen anything yet.

The always animated Jim Cramer is right to use his platform to go after Cuomo. I saw him do it on tv last night, and he's continuing the drumbeat today. Cramer calls him a communist... I think he's even worse than that.

Politicians in Washington and around the country are coming up with new laws and regulations that will supposedly fix the mortgage industry. They are eliminating variable products, yield spread, stated loans, and other alternatives that helps consumers and their advisors structure a deal to make the purchase of a home a viable option. When the options left aren't attractive or feasible for the consumers out there who are trying to get out of a rental or trying to keep a home... they will have no where to go. Consumer confidence will continue to go down. Ownership rates will continue to go down. Credit scores will continue to go down. Other industries will be affected as people can't afford what they once could, or can't make minimum payments for what they now have. Prices and values will continue to fall. The only things that will increase will be the foreclosure rate and unemployment.

This is serious business, and a serious problem facing our country. While many in the media and elsewhere would rather discuss Rosie O'Donnell's job prospects or whether or not J-Lo is pregnant... our country is on the brink of a recession. And anyone who uses the backs of hardworking Americans facing tough times as a way to catapult into greater political capital is a traitor. Our country and its people come first. Don't sacrifice them and us... don't make the situation worse just because you think your political prospects will become better.

You want to make the situation better? Leave it alone. How many times can I say it... Lender's don't want to foreclose on a home. It is a zero-sum game at best. Changes need to be made, but they need to be made by the people who understand how this works... Washington, North Carolina and other state legislatures, and politicians around the country have proven they don't. The market can't work this out with the threat of lawsuits, increased regulation, and political posturing. The threat of bad debt is bad enough.

Keep meddling around and everyone will take their ball and go home... where do you think that will leave homeowners or the economy?