Thursday, September 2, 2010
Post #100...ANOTHER answer!!
This answer does NOT seek to bolster either side's argument. I'll save that for another day. As I've previously mentioned, we are a chronically Bipolar society. I will document the numerous reasons for my opinion at a later date; however, at this time, I firmly believe a much more acute diagnosis and treatment are necessary.
We, as a country, have tried bailouts...bailouts of the banking industry, auto industry, mortgage and/or lending (Wall Street) institutions, and bailouts for individuals who became financially insolvent due to the quote-unquote housing crisis...and yes, ALL should receive credit or blame, depending on ideology, for these bailouts. Yes, for my "answer," partisans need not apply.
However, since we've bailed out the bankers, lenders, Wall Street-types, AND the homeowners, who bought houses from those lenders...well...it stands to reason that we also bailed out the irresponsible bankers, who preyed upon many innocent potential homeowners (EVEN ABOVE any government mandate)...AND yes, it stands to reason that we also bailed out the irresponsible homeowner who had neither the money nor the credentials to qualify for a home loan...without the aforementioned government coercion or lender greed.
So, we've either directly or indirectly (again, depending on your ideology) bailed out the irresponsible lender AND the irresponsible homeowner. My ANSWER is that we should NOW bail out the RESPONSIBLE homeowner. My answer involves lowering, by government mandate, the interest rates of ALL current homeowners who have NEVER missed a payment, NEVER been late on a payment, nor declared bankruptcy, or sought foreclosure, etc. It's just that simple.
Imagine what RESPONSIBLE people could do with ALL THAT EXTRA $$$ in their pockets each and every month...and for those of you on the other side, imagine all that extra money coming into the government coffers from taxpayers not being able to deduct as much mortgage interest. It's a win-win...AND another answer...courtesy of mediacopp.blogspot.com .
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