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Friday, December 21, 2007

Government Mortgage Bailouts: Welfare for Big Business

I don't know about you, but I think all this stuff about the government helping people save their homes by providing government financial assistance is a bunch of crap. The bottom line is that it really is a form of welfare to the mortgage industry -- banks, financial institutions, speculators, and the like.
Think of it. Who really benefits from the government intervention? I say let the mortgage industry eat it all up! Let that industry lower its rates or let them get stuck with all the homes they want to forclose upon but cannot sell. Do you really think the mortgage industry really wants all those homes? I think not. If the government does not intervene, the mortgage industry will have to negotiate new rates with homeowners or the mortgage industry itself will go bancrupt.
Read this just for enlightenment.

3 comments:

Hooda Thunkit said...

Roland,

Your logic is flawless.

Any way that you look at it, somebody else is getting some more of OUR money.

Washington is clearly Socialist if not outright Communist. . .

Roland Hansen said...

Hey HT,
Do you think the government will help pay our shelter costs? Maybe if we ask them real nice ....
Oh, wait a minute, I guess we don't qualify because we are moderate income people who live within our means.
Darn! Left in the cold, again!

typicalaveragejoe said...

Totally agree with you. Why not help the people directly and stop bailing out big business?

Now they are looking at bailing out the automakers. Hello, bad business plans are not a reason for taxpayers to support an industry.

Ethanol business incentives are a perfect example. Ethanol doesn't make sense on a simple business model, yet the government gives incentives to promote the alternative energy. End effect to taxpayers is that our tax dollars support them and our food costs rise.

It is time we got some real citizens running the country!