Monday, October 22, 2007

Bailouts........Get Your Bailouts!!

We all want to live the American dream. Hell, thats how all of us came to be. Our ancestors wanted something they could not have and provide a better future for their sons and daughters. Well, for some of us that may wait. Myself, am not a homeowner. As im sure many of you fine young readers here are not as well. Well guess what? Its gonna take alittle more time and money. The Senate already decided to approve a 100 million dollar homeowner bailout at the expense of US taxpayers. Oh, and thats just the tip of the iceburg in terms of how much more will be approved. I can just see some rich asshole decided to buy a house they could not afford, refinance that house they couldnt afford, and burden their woes on you and me, the somewhat responsible person who somewhat lives within their means. I dont get it. I can see this rich asshole smirking, laughing, and bathing in what was my money in his golden bathtub.

This is happening as we speak in Ohio and Tax-echussetts. But soon enough this will engulf all 50 states. Why is it that this generation has to flip the bill for Social Security (knowing we wont get any unless their is some serious reform), a bullshit war, and so many other bullshit earmarked programs. So what if their is a mass foreclosure epidemic going on?? Not to be an ass, but my parents always told me if you cannot afford something, dont buy it. Well, seems these assholes should have heeded the same councel. Remember a time when credit didnt exist?? Well, i dont, but im sure our/their parents do.

But no worries, the Gov is offering solutions to ease the burden for those loser taxpayers who didnt get in while the getting was good.

Solution 1: Burden the lenders. Ok, someone help me out here. Business 101. Why take the hit when you can make the consumer pay for it. Thats exactly what will happen. Lenders wont lose. You and I will lose.

Solution 2: Increase the ammount of loans Fannie Mae and Freddie Mac can assume: Ok, what happens when a Government sponsored agency runs out of money. The Government steps in and bails them out. Where does the Gov get this kind of money. Exactly. We the taxpayers.

Solution 3: Ammend the bankruptcy laws. Instead of a clean slate we issue a repayment plan. Hey now we are thinking. Make people responsible for their actions. But the problem with this is that the mortgage debt market could be exhausted, ultimatly making it harder and harder for us borrow money. It would de-stablize and already de-stabalized market.

Either way, these solutions will make it harder for us to live that dream of one day owning a home. I have no sympathy for whats going on. For years the government has been telling us about this "housing bubble". But people shrug it off comparing this bubble to global warming and wanted nothing to do with it. I dont feel its my duty to assist in these moroninc bailouts.

Not a sermin, just a thought- thanks Dews


Dews said...

haha, I think thats actually from McLean Bible...

Can't remember now though...

Dews said...

Thank god we have these social programs in place to help the downtrodden Loaner...

I'm so glad that we don't have anyone in our country struggling to find money to eat so that we can spend on these far more important things

SayHey Kid said...

Yeh, I love working hard to help pay someone elses mortgage. No No, I dont mind.

God id love to see an revision to the 3nd Ammendment right about now.