I find it odd that the people who entered into mortgages they couldn't responsibly afford, encouraged to do so by investors who stupidly thought that housing prices would rise into infinity, are now going to bail out the companies via their taxes.
That's weird.
1. If the people don't have a lot of money to pay their mortgage, then they won't have a lot of money for taxes.
2. The rich people who invested aren't getting dinged much at all.
3. Doesn't anyone think the money will run out at some point? I can't believe how many times in this administration we've heard about bailouts and the government will take care of things - even when we're at war in two countries. I'm all for government being the personal safety net, but in order for that to happen we have to be realistic about other expenses. Stop the war would be number 1.
I don't know...this doesn't look good to me and it makes no sense. Too many band-aids are obscuring the fundamental problems, and people who work in and watch government and economy know that's true - but still nothing changes.
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