I feel like this puts the thumb on those who have worked hard, saved for a down, etc… It’s pretty much like we have to coddle and baby sit these idiot borrowers.
Yup. But it just might happen because it bails out the two most important political constituencies: The donors and the victims. Anyone else feel like you’re living in an Ayn Rand novel?
Reminds me of the Educational Equality initiative that was proposed on Long Island twenty years ago. I forget the exact numbers but the gist was that since the middle/upper-middle class neighborhood schools had more money than did the working class neighborhoods, it was proposed to pool the money and dole it out more fairly. Some friends of mine and I figured out that if we expanded the pool to include the most affluent neighborhood schools as well, then the middle-class schools would stay roughly even. The response was basically “Nice try kids, but don’t you know people PAY more money to live in those neighborhoods?”
Strange, and I thought the middle-class people paid more to be in those neighborhoods, as compared to the working class areas.
I guess the moral is that we should all pay for the victims, whomever they may be, but we can’t expect the ultra rich to take a hit, because they deserve their money.
