Tuesday, October 14, 2008
Bail Out Wrong People?
Instead of bailing out the businesses and banks, what if the $700 billion went to paying off all the mortgages for the homeowners? Wouldn't that solve both the economic and individual problems? I think if taxpayers truly had a choice, we'd vote to have our neighbors' houses paid off.
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Why would it be appropriate to use public funds to pay off the mortgage for someone who chose to borrow heavily to buy a house, as opposed to others who saved up to purchase a house? Wouldn't that reward the spenders at the expense of the savers?
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