government foreclosure bailout
blog~simplesearchapts.com May 8 2008 04:30:45 PM
In my last entry I talked about the rise in foreclosures, up
112%. There are a number of people who support a government bailout.
In other words, the government should step in and repair the mistake. Word of
this impending bailout has a growing number of people wondering “why?”
Why should tax payer dollars go to repay the damage caused
by reckless lenders and borrowers? A CNN report points out the website www.angryrenter.com This site is getting 40 to 50 signatures per
hour and the last time I looked had over
44,000 signatures. Some key points are “it is wrong to force all taxpayers--
including renters who are already subsidizing home owners through the tax
code-- to pay for additional bailouts for big banks and home flippers” and “both
banks and borrowers should be responsible for their actions, and the government
should not reward reckless behavior.”
I am a renter and agree with these points. Am I responsible
for the banks and the borrowers who made risky decisions? It is not like I am not sympathetic. However,
I believe that ALL tax payers should not have to bail out the mistakes of a small
percentage of people.
Renters are already paying a price with the increase in rental rates across
the country. I am interested in any feedback on this point.
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