Whats wrong with the new housing bill?

Question

i heard there is a new housing bill going through the senate. What are the positives and negatives of it? i know Obama supports it and Bush opposes it, does McCain support it?

Answer 1

The new housing bill uses your money to bail out people who bought homes and could not afford them.

Answer 2

What the first one said is true; but I don't see how its any worse than Bush using our money to bail out the mortgage companies that screwed those individuals in the first place.

This is basically a situation in which the companies did a bait-and-switch with mortgage rates; and the people fell for it because they didn't do even the most cursory check on how the rates would keep rising on them.  If they had, they would not have fell for the con.

But it was still a con, and Bush bailed out the companies that did that con.  Now the Democrats are going to try to bail out the victims who were stupid enough to make themselves victims.

But we as taxpayers are screwed both ways.  But this Democrat plan has a better chance of restoring investor confidence in the housing market if they know those mortgages they thought were lost will now be paid.  So it has the better chance of helping the economy than Bush's plan did.

Bush screwed us and did nothing but save more of his corporate buddies; Democrats will s***w us but maybe use it to help us later.  MAYBE help us later.