So it does come to some kind of bail out. I remeber we had this discussion a while back on one of the threads. It just sickesn me to think about any bail out. Why should we, the tax payers, bail out stupid idiots who overleveraged themselves by buying the house they can not afford. But what do I know.
Republicans cannot claim to be fiscal conservatives. They are most certainly not. Remember the S&L bailout under Reagan? Deregulate, let your buddies make a fortune, then it all goes to shit and you let the tax payers clean up the mess. Same old crap.
You didn't really think that they were going to let the pizza boy next door get kicked out of his $500K home (with swimming pool) did you? The only other shelter he could afford would be a 2bed/2ba apartment with a (ugh) community pool. It just wouldn't be right!
I think bailing out these homeowners will only create more problems, this is not the way to do it. ITS NOT THE WAY TO DO IT.
With Bush acting, you can be sure it is NOT the pizza boy he is worried about. This mess could hurt his "elites" in the financial business. That mustn't happen.
get over it - we're not in a free capitalist system. every policy change benefits and (hurts) some parties involved. bailing out homeowners increases debt quality -> stabilizes markets -> stabilizes housing dependent job picture -> strengthens the dollar. (remember a faltering economy leads to a weak currency) if you want to gripe about handouts for the stupid, then you are better off finding a house of cards that isn't dependent on 'stupid' for the foundation. (thats what the US is) anyway, don't get ahead of yourself - no one is getting bailed out but bank interests..
the most interesting pat about the dollar. Do you remeber that during last 4 years of econmic expansion dollar lost half of its value? And during the last recession was strong and made all time highs to amny currencies. I think so bailing out of homeowners increases money supply and encourages risk behaviour-> creates new bubbles -> decreases inflation adjusted wages ->weakens dollar (remember - printing money leads to a weak currency doesn't matter how economy doing)