Sep 20 2008
When is the Govt. Going to Bail Out the Little People?
Hm… so the US Govt. is now in the mortgage business and the insurance business. Hey, does that mean that all US Citizens will now be able to get affordable health insurance? And by affordable I mean like in the 100.00 range to cover a person a month. Not this nonsense of 250.00, 350.00, and even higher insurance premiums per month.
And what about all these people facing foreclosure? Is the government going to do a loan modification for everyone so they can start over fresh on their loans? Loan modification is where the bank puts the payments that are behind at the back end of the loan. If they did that, that would help quite a bit of people who got behind. Some will stay behind, then foreclose on them, others will stay on track. Good for them.
Or, will the govt. just seize all those properties that are in or close to foreclosure status? I could see them doing that. Isn’t that like the kings seizing the property of the serfs?
I wonder what giant corporation I’ll get to own (as a taxpayer) next week if/when the government bails out more of these goons.
One Response to “When is the Govt. Going to Bail Out the Little People?”
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It is quite a shame that so many are struggling to keep their homes. I think a bit of financial education required in our high schools would go a long way on that one. We need to educate people on how to manage their money and not buy houses that are way beyond their means when they get a good mortgage deal.