Today, the Bush administration approved a mortgage relief package. From what I'm hearing, it will allow homeowners who can't pay their present mortgages to refinance at a lower rate and use a FHA type of government loan to back them. This is great but, my question is... "What took them so long to do this? What... they didn't think of it until now?" The solution was there all along.
A lot of the right wing types like to say that people such as I, who happen to swing a little too leisurely toward the liberal end of the pendulum, want the government to control people's lives. Nothing could be further from the truth. What I do want is for the government, in situations in which it is called for (such as the present mortgage crisis), to be able to step in and alleviate the problem, as it did.
Here you have a national emergency.... people are losing their homes around the country and you have other people who have the gaul to say, "Let them handle it themselves!" When a sizeable amount of your population loses their homes, cars, and jobs... guess what they're not doing? Spending any money. Why? They don't have any. This causes a ripple effect. Then, somebody else loses their job because sales are slumping and that person loses their home, car, etc. Do you see where I'm going with this?
When the government steps in and helps a number of people to stay afloat, they in turn help the economy and thus, the entire nation in general. Simple isn't it? We also have a number of people who don't have health insurance? The right wing's solution is simply for people to stay healthy. Taken plainly, that sounds great but, real life is a little more complex. For example, does "Just Say No!" solve the drug problem?
The government can't solve every problem and shouldn't get involved in everything but, for the problems it can solve, I wish that the politicians were a little quicker and sincere in doing so. This is better than say, waiting until the last minute (the eve of a big election) to do something.
A lot of the right wing types like to say that people such as I, who happen to swing a little too leisurely toward the liberal end of the pendulum, want the government to control people's lives. Nothing could be further from the truth. What I do want is for the government, in situations in which it is called for (such as the present mortgage crisis), to be able to step in and alleviate the problem, as it did.
Here you have a national emergency.... people are losing their homes around the country and you have other people who have the gaul to say, "Let them handle it themselves!" When a sizeable amount of your population loses their homes, cars, and jobs... guess what they're not doing? Spending any money. Why? They don't have any. This causes a ripple effect. Then, somebody else loses their job because sales are slumping and that person loses their home, car, etc. Do you see where I'm going with this?
When the government steps in and helps a number of people to stay afloat, they in turn help the economy and thus, the entire nation in general. Simple isn't it? We also have a number of people who don't have health insurance? The right wing's solution is simply for people to stay healthy. Taken plainly, that sounds great but, real life is a little more complex. For example, does "Just Say No!" solve the drug problem?
The government can't solve every problem and shouldn't get involved in everything but, for the problems it can solve, I wish that the politicians were a little quicker and sincere in doing so. This is better than say, waiting until the last minute (the eve of a big election) to do something.
11 comments:
I agree 100 with you! It always amazes me how the right doesn't want government in our homes, well unless its in our beds. You know telling us who we should marry how we should live what women should do with their bodies. You see that's different.
I am glad they stepped in too, but like you am looking at my watched side-eyed as Uncle Sam rides in on his white horse. It's about damn time!
-OG
you know i so understand where you are coming from
they need to get their shyss together and start making it easier on us Americans
my moms is going through some rought times
times is hard
hell Keith its hard out here for a pimp,lol
Oh yeah, when i read about this i was thinking well it's about dayum time, in fact i think they could do more. Now they need to shut down these Mafia Credit Card Companies.
but where in this bail out is anything included on the education and prevention of this happening again? i mean...if you know you buying a house you can't afford - and you lied on your mortgage application about your income - all because you want that big house in the hills, and now, the government is going to step in and make sure you can keep that big house. what is preventing that person from lying on a car application and buying a big car (that they can't afford) to match the big house? i'm kind of against the 'bail out' - how does anyone LEARN to be responsible, read your paperwork do your due diligence if we gone keep on bailing them out?
Point Taken Crys- but the Government bails out big Corporations all the time that knowingly make the same mistake over and over...It's about time it bailed out it's citizens.
hey- have you seen this:
http://www.blackamericaweb.com/site.aspx/headlines/extrememakeover729
so extreme makeover bailed this family out of their situation, not by educating them but by building them another home. a brand new 450,000 home. so, they take a loan out on the house for a failed business venture and now it's in foreclosure.
i mean i do see what you're saying....but it's just a part of a cycle that won't stop at the bail out. what happens after that?
I have to agree with Crys here...There has to come a point when the government does more than simply bail us out. Education- credit counseling and wealth building initiatives for the communities affected are needed.
The bottom line is that many who were able to get homes were not able to afford them.
As a nation, we are facing a record defeceit and it does not look as though things will improve. Bailing out will require more money we do not have.
Actually the bail out needs to happen, because even with due diligence of those who signed the banks papers the BANKS didn't do due diligence in making sure these people qualified. Many of those in foreclosure didn't lie about there income or credit, but banks became so greedy with the high amount interest they were making on B and C paper of the people would have normally been turned down.
So if the government is bailing out the banks by the millions which it is they really should bail out the citizens.
The mortgage crisis, like the savings and loan crisis and the Enron collapse is because CORPORATIONS became greedy and stopped following the rules and regulations that were out there. They paid senators to repeal laws and acts with lobbyist etc and basically got to greedy. They weren't satisfied with making the interest of the people with B and C paper who were trying to rebuild their credit they wanted more.
They weren't worried about foreclosures because the economy was still in fair shape so they could resell the house. The problem happened with the economy took the downturn and all those people on the bubble fell as it burst.
So to me the bail out in this situation is only fair. Believe me the deregulation of the banking industry relaxed the standards to buy a house SIGNIFICANTLY and that is what never should have happened.
I am sorry if I was a person who was trying to get a house and a bank offered me the loan I'd take it. The bail out has to happen otherwise the banking industry will crumble to dust, which would be fine if they weren't borrowing my savings to invest in other sectors etc.
With out the bail out all of our money will be affected in some ways, FDIC only insures up to so much cash and that number will decrease as banks keep closing left and right.
This isn't a oops you screwed up your credit moment here kinda bail out. This is an our greed has put this countries economy in the Sh*tter kinda bail up. The government should bail some of these citizens out because they created the relaxed standards and climate that made this mess.
My 2 cents save it or spend it, in this economy I suggest SAVING it!
-OG
Nupe this is strong work and real right here. The governments job is to help when its needed, not control lives and the like. This should have been done a long time ago.
Thanks for droppin by Dappa,don't be a stranger!
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