you are hardworking wage earner. you make good money but are not rich. all the morons who bought with toxic loans ran up prices of homes. your “good income” only allows you to buy an “average” home, while the dumba$$e$ bought mcmansions they never should have, but did b/c they were dumb and took out unsafe loans.
all the homes are now upside down. the idiots who don’t make enough to buy that 750k mansion now cry “unfair” and the gov’t is going to bail them out. they probably make less than 100k, probably far less – but yet they get a principal reduction, super low interest rates… you name it – let’s keep them in their mansion.
you the 100k+ earning hard worker, responsible guy – you try to get some assistance and they will tell you that you MAKE TOO MUCH and you don’t qualify.. just wait.
any of this bailout stuff will have strings attached so that most, if not all,of US here at piggington – who make decent money will be told we don’t qualify for relief…
so we keep working, keep paying taxes, and they take our tax money and essentially give it to the morons who bought houses they never should have.
this does nothing except piss people off and encourage people to find ways to scam or beat the system and be irresponsible.
what SHOULD happen is there should be NO bailout for anyone. if you crash and burn – good. you will be an example for everyone else to learn from – and people will pay their bills and not extend themselves. they will see that when you are irresponsible with your money – you suffer.
what we are teaching everyone is that you can do whatever you want – spend money you don’t have, buy things you can’t afford – and when the $hit hits the fan, you will get bailed out.
