Rich investors bailed out while taxpayers get screwed?

Question

What a joke. This so called "help the forclosed" bill is nothing more than an opportunity for lenders to dump their bad loans on the US taxpayer. What a ripoff!!!

Answer 1

I can not disagree. I can understand the reasoning behind asking to  shore up financial services sector on grounds that the US dollar may be put under severe stress if this is not done.

So one way or another the taxpayer will be hit for this. The currency base is very fragile right now, so keeping it afloat may appear to be the bigger concern.

Answer 2

Agreed. That is why George Bush originally indicated he would veto the bill. But the Democrats vowed to make it a campaign issue while twisting the facts to make it look like Republicans are cold and heartless. So all us taxpaying citizens who are up to date with our mortgages will be bailing out those who bought more than they could afford and the lenders who loaned them the money. Thank you Democrats. Expect a good deal more of this kind of c**p from Obama.

Answer 3

While I am wholeheartly opposed top the bailout, it is not "rich investors" who are being rewarded, it is the idiots that lied about their income and bought more house than they could afford, basically because they were greedy & lacked the common sense or math skills to see what would inevitable happen.  The idiot banks that sold these loans (then bundled them and got rid of them) also bear much of the blame...