Government Housing Bailout of Forclosures....?

Question

Why should we the government bailout unscrupulous lenders for the greedy? Isn't this insane?

Answer 1

1. its mad

2. problem=hous prieses 2 hi.

tu solv problem, gotta kut hous prieses.

tu du that, let the market adjust.

guvt interfer just delae the adjust.  Eventually, hous prieses will drop tu weer biers kan afford tu bi.

3. it was a mania (bubbel). kauz=greed.  Bubbels alwaes krash.

that kure the bubbel.  So sum get hert bi the krash.  & sum hu got out erlee dont get hert.  thats life.

4. maby guvt kan make nu rules & maby prevent next bubbel.

& maby us will thro snoballs in h**l first.

Answer 2

Because our economy is suffering all due to the mortgage crisis.  It's affecting jobs, spending, prices, etc.  No, the mortgage industry was not right to have done what it did.  A lot of the culprits have closed down and their employees are still out of jobs or in other industries.  The government needs to step in or we're looking at the next Great Depression.

Answer 3

It is insane, and it is expensive.  Your tax dollars at work.  And remember, many of these loan applicants deceived their lenders into making these loans: e.g. adding other people's incomes to qualify for a loan they could not get on their own incomes, yet these other parties are not living in the home and not paying for it.  Do not solely blame lenders; borrowers earned their share of the blame, too.  

Now Congress is in for their share of the blame for this mess.  They are among the lobbyists, "minority 'rights'" advocacy groups, etc who pushed and pressured lenders to lend to low-income people so they could buy houses they could not afford.  Now they are bailing out people that never should have bought in the first place, as well as bailing out lenders who saw them as a gold mine when it never was more than fool's gold.