The quote from Duncan was great. Let me repeat part of it…
“support the bailout of people who traditionally have not managed credit well?”
How will these people EVER manage credit well if they get bailed out? You don’t get born with bad credit, you earn it. Okay there are cases of hardship, bad luck, layoffs, etc… however I have found that those people were the ones who REALLY DID LEARN how to be fiscally responsible. The OVERWHELMING majority of people who I have seen and worked with that have credit problems are chronic. They cannot, will not, and will never be fiscally responsible. They are constantly being bailed out.
I am a renter and I hate it but I do it because it is the responsible thing to do. Why have ANY federal program to help those who have NOT helped themselves.
Teach someone that they can walk away from a mortgage and they will walk away from a mortgage. Then they can walk away from the next one. Let them lose a home and endure the consequences and learn that maybe they need to stay within a budget or get 2 or 3 jobs to support the lifestyle they want.
I do not want to work to foot their bill.
Why is it an issue for people to be responsible for their actions?
ps – kewp this rant wasn’t aimed to you, it is just rant to all…
