Instead of bailing out the Wall Street multi-millionaires, here is a plan to help out everyone else. http://www.washingtonpost.com/wp-dy...2/03/AR2008120302889.html?hpid=topnews&sub=AR
This assumes that a point or two is what is dragging everything down. Sure this is better than the other stuff they've been doing, sure it will help some. But most that can't afford the overpriced homes still won't be able to afford the overpriced homes anyway. Why do people (and the government) just not get that things went too high, they need to go lower. Oh well, must fight it to get re-eleceted I guess.
Agree and disagree. You might be right that this isn't enough or won't be structured in such as way as to help. And you're totally right, in my humble opinion, that homes are still overpriced by historical standards. But, I don't think this about reelection. This is about trying to fix our system which is now broken. Some bold steps are needed and this is what the goverment is for. For example, we should buy GM. It would cost the taxpayers 3 billion and we get the whole company. Why bail them out for 20 billion? After we buy, them let's do like we did in WWII, tell them that it's time to build green cars. We told them that they had to build planes and tanks and within an incredibly short time span, they just that. I'm hoping and lobbying our representative to make this move. No reason to pretend we can cajole this corporations into changing.