What a shame that congress is even considering this. The
irresponsibility of Americans has gotten even more out of hand.
People need to be bailed out of their toxic home loans? Whose fault
is it that these people paid ridiculous amounts for a home that they
could not afford, with little or nothing down, with adjustable loans?
These loans are what is responsible for the current housing bubble,
and to bail out these idiots would be another huge mistake that the US
would make. They signed all the loan docs, how many times? It is
buyer beware. It is their responsibility,
The best way to deal with this is to hold the lenders, mortgage
backers, and home owners responsible. It will be a tough lesson, but
we will not duplicate the mistakes if we let nature run its course.
Penalizing the few who know how to manage their money, and avoid the
most ridiculous housing bubble in over a decade, is wrong. I feel
that our abuse, misuse, and large appetite for credit and debt is the
single largest problem with our country, which is why we have a
negative savings rate, a huge housing bubble thats just begun to
crash, a stock market that has been faked up to look good, but is now
suffering, and a weak dollar that is becoming even weaker to other
world currencies like the yen, euro, pound, etc. This is a shame.
