Don't feel bad about the any bailout. At best it's a bandage for a missing limb. All i see is a bunch of people who will now get a mortgage rate frozen. In the short term, that will work. As time progresses, these people will be in the same boat again.

Even with a frozen mortgage rate, pretty much everything around is going up in price with inflation. I suspect several folks will barely be able to live paycheck-paycheck today with a bailed-out mortgage with today's cost of living. I'm sure if we see higher prices across the board, these people will be in the same boat again. Also, a financial relief is just that…A temporary relief. I doubt most people who are bailed out in the short term will suddenly wake up to be more financially responsible. Once the pressure is off, it's business as usual (spending). Banks aren't dumb in thinking this is a permanent fix. I think they just are doing this to spread out the defaults over a longer period of time and protect their own interests and prevent a complete financial meltdown.

Another thing, once the war spending starts to shrink, SoCal economy will probably take a double hit. Happened in the 90ies, will happen again. I'm willing to bet money once the Dem's take office, we won't be spending nearly as much on defense. A lot of employment is going to just evaporate in southern california. Meanwhile, I'd expect NorCal topick up. Talk to anyone living in L.A. like myself during the 90ies, and they'll tell you what happened with the aerospace industry during that time.

Please note: I don't "wish" people to go through malady. But it just seems like people who are financially challenged don't really wake up unless something drastic happens. And a bailout just prolongs this realization imho.