Skip O'Neill – Liberty for All

Ron Paul for A New Direction

Mortgage Bailout

with 5 comments

monopoly-house

Get this, Obama has warned that “things are going to get worse before they get better”.  Worse for whom, for those who are already in trouble with their mortgages?  What about those who are not in trouble.  I see it as getting worse for the taxpayer.  

Is Obama really going to offer some sort of homeowner / mortgage bailout to those individuals who are struggling to meet their payment obligation?  What about all of those homeowners, who are current on their mortgage payments, who have made cuts in other areas of their lives to make sure they honor their obligations. 

Whatever happened to personal accountability?  Having the U.S. government create “rescue” fund to help people in trouble to refinance their mortgages is a slap in the face to all of those who take responsibility for their actions and make informed decisions before entering into a high risk mortgage.  If Obama gets his way and offers government refinanced mortgages, who qualifies?  Those who are behind?  And will they be financed with printed monopoly money?  This is the price we pay for ignorance.

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5 Responses

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  1. Ha! “principle reduction”.. Honestly, I can’t wait.. When this country thinks it is necessary to give a principle reduction to the most irresponsible folks in America, it will be beautiful day for all the academics who promote this daily.. A principle reduction for a small percentage of the mortgage holders in this country equals a waterfall of defaults that no professor or economist or some “know it all” newscaster will input into their “mathematical” equation. Who really thinks a responsible and prudent neighbor will stand by and watch someone else get a principle reduction and smile and say “isn’t that sweet” they refinanced their house multiple times and bought all those wonderful toys and now my tax dollars will bail them and I will just continue to give and give and be charitable, all for the greater good… Little do these academics and Washington folks who never get out understand, this move will not only bankrupt America financially but it will be the last straw and bankrupt America morally. I would call this “wipe out” of anything that may be left in this country we might call good, charitable and responsible. I just dare the government to do this. At least we will be able to add to the dictionary what a “modern day revolution” definition will look like.. I guarantee anyone it will not be pretty. And to think they are worried about the financial health of this country. Can you imagine what this country will look like with the highest crime rate in history?? Of course not…

    Go ahead… “Make my day”!!! Give those homes away… Just dare ya…. You can bet I will figure out how to take advantage of the deal of the century someway, somehow… Gaming the government and the new black market in AMERICA!!

    🙂

    ss

    December 8, 2008 at 11:54 pm

  2. The same holds true for your neighbor who chose not to purchase earthquake insurance. When an earthquake stikes and both houses are totaled, you get to replace your house because you purchased the insurance AND your neighbor gets to replace their house because of government handouts. What is the incentive to purchase the insurance if everyone will be bailed out.

    You made a nice point about personal responsibility. Keep your posts coming, I love them.

    Tina

    December 9, 2008 at 10:02 pm

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  4. A very well written article. Thanks for the good tips!

    Erica Rose

    June 4, 2009 at 3:24 pm

  5. […] Mortgage Bailout December 2008 4 comments 3 […]


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