What do feminists(+normal people)think of the mortgage bail out plan that rewards irresponsibility?

Question

and punishes the responsible.

Rewards the irresponsible by forgiving contracted debt ,while punishing the responsible by forcing them to pick up the slack in higher interest rates and tax dollars.

What do you think about rewarding bad behavior at the expense of the responsible ?

Answer 1

What do you mean "normal people"? are you suggesting that feminists aren't "normal"?

It is the wrong section for this question.

It does not reward the irresponsible and punish the responsible. Look at the sub-prime mortgage crisis. It was not caused by people being "irresponsible" but by misleading and dishonest marketing strategies that focused on getting those who couldn't afford it into more debt.

Answer 2

How about the bill that rewards exploitative mortgage brokers who sold people mortgages they couldn't afford using money from large banking institutions that carelessly gave it away with little over site on their part and then had to lose billions in uncollectable debt that arose from a hyper inflated real estate market pump up from poor lending practices?

In case you couldn't tell, i prefer to blame the banks for lending people money they could barely afford with a variable interest rate that insured they couldn't afford it in the future

Answer 3

I'm thinking, what does this have to do with feminism?

Answer 4

A question which bears no relation to gender studies just so you can add the title feminists (+ normal people?) ....?

Answer 5

Normal person here

Yeah well the money was put in front of them, the banks that they trusted told them that they could handle it. they were sold on the idea of cheap money. more stupid than irresponsible.

even the main stream "experts" were in denial of the severity of the credit and property market bubbles. so how were Joe and Jane public supposed to know?  They were borrowing and buying houses right up to the crunch.

what it is is the taxpayer propping up the banks, gov. isn't just bailing out individuals. they are trying to avoid bank failure and prop the housing market.

Here is an article on women in debt.

"'Fat used to be a feminist issue, but it looks like it's been overtaken by debt." LMAO!

http://www.marketoracle.co.uk/Article600...

Answer 6

I don't like it, but Citibank bought the last eight years of the Presidency for Bush, so what are you going to do about it.  Whatever is best for the banks is what is going to happen.

Answer 7

I think it's abhorrent. People who took out ARMs were morons to not consider the possibility that the rates would go UP some day. And the banks were greedy and irresponsible to make mortgages to people who they knew couldn't afford them when the rates went up. Everyone involved was at fault, and there is no reason why WE should have to bail them out.

As to everyone blaming the banks and making the homeowners out to be victims, get a grip! No one forced them to sign those mortgages. They wanted bigger houses than they could afford, and they gladly bought into the banks' sales pitch. The only victims here are the taxpayers who have to bail out both sides for their own irresponsibility.