I hope this is posturing, like security screenings at airports are postures.
No one's bailing out ignorant Americans for the bad electoral choices they made over the past eight years, only class action suits made a minuscule remuneration attempt to compensate the ignorant stockholders for their blind attention to analysts' reports and faulty 10K statements, why should a smaller percentage of ignorant Americans be bailed out for the bad financial decisions they made?
Honestly, considering most of the legislators who supported the Bankruptcy Act of 2005 are still legislating in DC, and cash advance franchises proliferate still and no one is bailing their customers out, I doubt very much a bailout for subprime mortgagees will happen. It's a rude awakening for them, but they should have been awake and alert to attempts to cheat them out of their money and security for years now.
Looks like we're not the only ones that don't think a bailout is a good idea. Economists are starting to warn against it as well, and noting the price tag would be much higher than Senator Schumer is proposing.
Comments
No one's bailing out ignorant Americans for the bad electoral choices they made over the past eight years, only class action suits made a minuscule remuneration attempt to compensate the ignorant stockholders for their blind attention to analysts' reports and faulty 10K statements, why should a smaller percentage of ignorant Americans be bailed out for the bad financial decisions they made?
Honestly, considering most of the legislators who supported the Bankruptcy Act of 2005 are still legislating in DC, and cash advance franchises proliferate still and no one is bailing their customers out, I doubt very much a bailout for subprime mortgagees will happen. It's a rude awakening for them, but they should have been awake and alert to attempts to cheat them out of their money and security for years now.
(and btw, I am a Democrat who voted for Gore in '00 and Kerry in '04). It's time to let the free market run this time, Chuck.
http://senate.gov/
http://www.house.gov/
Subprime bailout? $120 billion
The more people that publicly cry against a bailout, the better. Let them know!