It is painfully obvious that most of the so-called “solutions” being implemented to remedy our current economic woes have virtually no chance of working.
Things have now reached the point where BAD BEHAVIOR is being REWARDED. Not just tolerated, rewarded. At the expense of those who have demonstrated GOOD behavior.
The “mortgage bailout” is going to actually support people who, though they did not realistically qualify for a mortgage in the first place, are now unable to make their mortgage payments. While I am not without compassion, reality dictates that this was a flawed situation in the first place… CAUSED by our Congressional “leaders” … and any attempt to “make it work” is unsustainable and will fail miserably. A circumstance that would never have come about if the government hadn’t suspended good business practices is now in a condition that cannot be solved unless SOMEONE ELSE pays the bills (taxpayers) or the inevitable conclusion to any bad loan is allowed to play out: foreclosure and repossession.
Why should the government intervene between a lender and borrower?
Sad to say, some people shouldn’t have been allowed to purchase their homes and, since they cannot pay, they should not be able to keep it. Cold, I know. Given that Congress set up this “house of cards” (pun intended), maybe they should try to help TRANSITION those people… but they should not be “bailed out”! Maybe allow them to move into government-subsidized rental housing or something like that.
More to the point: it is not moral to give preferential treatment to those who cannot meet their obligations (whether through no fault of their own OR due to their abuse of the system) over those who work hard and make sacrifices (not to mention good decisions) to take care of their obligations.
Seems like Washington consistently gets things “ass backwards”. We should clean house… elect responsible fellow citizens who pay their taxes, pay their bills, put country before themselves or their political party, and don’t see government service as a career but as a sincere contribution. We need people making decisions who have run businesses and households like WE have to.