The more I hear about it, the less I like it. The gov't here is goig to help the people who can not afford to pay their morgages. The people who have bought houses they can afford, made their payments on time and worked responsibly to support themselves will get no help. They (myself included) are the ones who are paying for this huge bailout that the gov't have put together. I want to save money to buy my own house. I don't want to be paying for someone else's house after they bought more than they could pay for. They shouldn't be keeping the houses they can't afford. They should be selling what the have and moving into something more affordable, not waiting for their neighbors to pay for their home as well as their own.
I've been working and saving so I can provide for myself in the future. I paid my own way through college while working. I paid my car loan off years early. I've been putting money away in a retirement account. If the gov't wants to levy taxes to pay for the roads I drive on, the military that protects me, etc, that's fine. I totally agree that I should be paying for things that benefit me. The neighbors that get to keep the house they can't afford is a slap in the face to everyone who was responsible. It's absolutely rewarding bad behavior. It isn't something I should be paying for.
2 comments:
Well, the culprit that started all these are the banks that made ppl think they can afford more than they actually. Problem is, if the gov does not help these ppl, banks will then repossess the house, which no one will buy, which put more cashflow pressure into the banks. The banks, as it is now, is already cash poor, and if they don't get paid from all the loans that they give out, they'll go under.
The right thing would be to let these greedy banks all die, problem is by doing so, the whole banking system will collapse, which will lead to the collapse of the modern world economy.
So, they really don't have much of a choice. It's either they give money to the banks to bail out the banks, or they help ppl that is paying the banks.
If they really want to help the people, they should give the money to the people. The banks have proven themselves to be irresponsible with money (irony anyone?) and shouldn't be given anything. I've seen figures for giving the HUGE sum of money to the heads of household instead of the banks. Each head of household would get something like $150,000. THAT would stimulate the economy like nothing else could. Everyone who is about to lose their home could either finish their payments when they get the check or leave what they have, let the bank take it and buy a house they can afford. $150k can buy a very nice house. Besides that, it builds real wealth. People can pay off houses, cars, boats, etc and have real thing. The money won't stay as just some nebulous numbers floating around and dying in the financial systems. It'll help real people buy real things and build up the real businesses out there.
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