Somehow I had a feeling that FBs would become a new voter bloc, the “soccer moms” of 2008.
If we must have a bailout of subprime borrowers, I say we pay for it by lowering the limit on the mortgage interest deduction from $1,000,000 to something more reasonable. Say, the Fannie / Freddie conforming limit. I’m sure it’ll become a palatable “eat the rich” issue once people realize that the deduction subsidizes McMansions, not vinyl-sided FHA starter homes in Iowa.
I’d also call for audits of mortgage application for all participants. Any substantial misrepresentations would be grounds for disqualification.
I’d also put a special 300% tax on speaking fees for former Fed chiefs named Alan. Maybe then we wouldn’t have to listen to him.
poor people don’t vote, so your bailout is non-starter.
Poor people shouldn’t vote, bring back the poll tax. $100 to vote for each election. [Only poor people who vote are in rural areas who vote on gay issues.]
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