Offering federal aid for strapped mortgage holders, President Bush is proposing to help hundreds of thousands of borrowers hard hit by the housing slump.
Let me rephrase this headline so that it has a glimmer of truth to it:
President Bush Wants to Make Sure Banks Get Paid On Stupid Loans They Made To People Who Could Not Afford To Pay
Of course, no one would ever throw their support behind bailing out large corporations who make bad decisions. The solution? Make it all about the little guy. That way everybody wins–Democrats and Republicans alike. That is everybody, right?
Well, everybody except for people who pay federal taxes and don’t overextend themselves. These are people whose financial role models are their grandparents, reasonable people who don’t buy what they can’t afford, not the federal government who spends as if it can just print more money any time it…
Nod to Rogel for alerting me to this!