Mortgage Bailout Boondoggle

I’m not sure I can be ticked off anymore.  It seems that every day brings some new horror from Washington.  If George Bush was as incompetent as Obama, he would have been thrown out of the White House by now.  Of course, as it is, the Kool-Aid drinkers think Obama is the second coming.  (Have we checked is hands for the nail scars?)

We have not heard that the Government will now be bailing out people who are “under water” on their mortgages.  Tell me again why we are perpetuating the problem.  What are these people learning?  It’s kind of like that kid we all knew growing up that was always in trouble but had parents with the right connections to get him out of trouble.  Usually those people grow up to be complete idiots expecting to be bailed out at the sign of trouble (i.e. not learning to deal with life).

Now, Mr. Obama has proposed $75 Billion to assist people to stay in their homes by allowing assistance to mortgage holders to rework the loan terms and the courts to force it if it comes to that point.  Do we need this?  Where is the responsibility on the part of the home owner who agreed to the terms of the loan when they got the house?  Why can’t the home owner go to the mortgage lender and work out some type of deal?  Some money is better than no money, right?.  Do we really need government intervention on this problem?

I guess the point of my ramblings is that I’m tired.  Tired of seeing my hard earned money that I turn over to the government in taxes thrown down the bottomless pit of all these worthless bailouts and social programs.  Like it was when we were children, we need to be able to fail and learn our lesson.  Without  those hard lessons, we’ll soon be back at the plate asking for more.  When will this nightmare end???

Of Course, that is just my opinion.

Rob’s Rant

Source: http://www.businessweek.com/bwdaily/dnflash/content/mar2009/db2009034_993400.htm?chan=top+news_top+news+index+-+temp_top+story

House Banking Committee Video – http://www.youtube.com/watch?v=LPSDnGMzIdo