OK so now Obama is going to write a 300 billion dollar check to keep people from losing homes they can no longer afford.
Let's forget for a moment whether or not a significant portion of those who would receieve assistance from this program are irresponsible or not. All I'd like to see is a little consistency from our President.
If he's going to rail against irresponsible CEOs and place government restrictions on how much executives can make if they work for a company that receives Federal bailout money... shouldn't there be some sort of similar punishment for homeowners who receieve a taxpayer bailout?
I'm thinking something like a ding on the credit rating and being banned from applying for or receiving a home loan for five years.
That seems fair to me... and more importantly... it's consistent with the President's previous stand on regulating bailout receivers.
UPDATE: Oh and after 6-plus bailouts, going all the way back to the very end of the Bush administration, I'm still waiting for a bailout to come along that I actually benefit from... as opposed to, say, just get to pay for. This is the curse of being a responsible guy in Obama's America.
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All this does is punish people who refrained from buying a house that they could not afford and will now have to pay to subsidize people who did and then they'll end up paying an outrageous mortgage rate when they eventually buy a house. The logic is just dizzying.
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