Tuesday, June 24, 2008

Bailing out idiots

Today, the Senate by a large majority voted to keep working on a $300-billion mortgage foreclosure rescue bill. As Fox News reports:
WASHINGTON — A massive foreclosure rescue bill overwhelmingly cleared a key Senate test Tuesday, drawing broad support from Democrats and Republicans alike.
As a home-owner who pays a mortgage, I'm a little bit teed-off at this comtemplated rescue by Congress of both people who bought larger mortgages than they could afford, or were sold mortgages by companies who really didn't care if the buyer could afford the payment later down the road. And for all those banks who bought risky mortgages, how do you like your stock prices now?

If the bill makes it through Congress, and the President is dumb enough to sign it, it will reward bad behavior of both homeowners and mortgage lenders. All with my tax dollars.

Again, the liberal-controlled Congress, and the weak-kneed Republicans, are spending my money to rescue people who shouldn't be rescued.

As Lewis Black said two years ago: On the one side, you have the Democrats, the party of No Ideas. And on the other side, you have the Republicans, the party of Bad Ideas.

I guess he had something there, huh?

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