Every “bailout” discussed in Washington D.C. is always about the home owners who are in trouble because the bought a home at a price they couldn’t afford. WHAT ABOUT THE REST OF US? Why should those that made decisions be rewarded?
Any stimulus package paid for by the taxpayers must be equal to all or the result is segregation. This country has fought for too many years against bias or prejudice against people passed on their race, religion or sexual orientation. TARP and the 2009 stimulus programs are creating a new bias or at least greatly expanding an old one – the poor versus the rich.
It is the responsibility of the Government to set the standard for equality not to create new standards for inequality. However it appears the Government is set to continue their errors of the past. First the Government forces private institutions to provide credit and loads to those that couldn’t afford it in the first place. This started with FDR’s New Deal and was continued by Presidents Carter and Clinton. Now it is being continued by Presidents Bush and Obama.
Rewarding only those that made bad decisions (either home owners or banks), is only one step away from giving criminals a get out of jail pass. In the case of mortgages, the Government is at fault for forcing the banks to provide the loans in the first place in an attempt to GIVE every American the chance to own their own home which somehow is included as a mandate for the living American dream.
How did the Government expect this to result in anything other than what it did – Financial Chaos?
If the Government is going to get involved, which they are to the tune of trillions of dollars, providing relief to all home owners is the only fair way to implement a solution. Providing tax credits for purchase cars doesn’t keep a family in their home. Providing relief to banks doesn’t keep families in their homes .
Immediate relief to ALL HOMEOWNERS is the only way to stop the mortgage crisis NOW! Reducing the mortgage rates provides homeowners instant cash in their pockets each and every month. This program affects every single homeowner, not just those with poor credit. This program also stops the depreciation of home values. With fewer foreclosures, property values will at least stabilize.
The People demand immediate relief to the tax payers not to only a select few!