Wednesday, September 24, 2008

The Government only helps the Rich

With the recent news about the bailout the US Government is offering the big banks, I ask; When the home owner had to foreclose on their house, the government looked away. They knew it was happening, but since the home owner has no representation in Washington, like the banks do, they saw it as not their problem. I believe, the whole housing problem stems from September, 2001. Mortgage rates dropped, making a new market for a get-rich-quick plan for people to open mortgage shops and sell rediculous mortgages. Then when the mortgage's rate (those tied to prime) jump, the home owner could not afford it, there-for foreclosing. They lose the house, the bank loses the money, do this thousand's of times and here we are today.

I know that is stating the obvious, but I do not feel that the taxpayer should bail out the banks. If the government helped the home owner or looked closer at the mortgage's years ago, we would not be here.

Maybe we should be like the EU and merge our economy with our friends to the north and south. I'M not sure if that really is a good idea, but I'M just tossing it out there.

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