I hate that this seems to pan out as a “democrat” – “republican” issue since I am somewhat on the liberal side myself. To me it just pans out as the usual political stupidity that Washington manages to churn out once in a while regardless of party.
I am one of those renters who has been somewhat careful, not taken a stupid mortgage, etc.
They are proposing quite a double-edged sword:
First, bail out the people who were not careful – and more importantly in a political sense, some of the finanical institutions and investors.
This of course will then help keep the housing bubble inflated, in essence keeping people like myself, now paying for the idiots who used the sub-prime mortgages to keep their homes while I will not be able to afford one myself as long as we artificially prop up the prices.
So I get the privelege of paying to bail out the lenders and borrowers so that they can keep the homes I should be able to afford but can’t –
