[Vision2020] Mortgage bailout
lfalen at turbonet.com
Mon Mar 17 12:27:18 PDT 2008
I think we need a new subject to talk about.
I am not an Economist, but I think a bailout for those in trouble on mortgages is a bad move. It has not helped in the past.
When tried in the past it prolonged and worsen the ression and or depression. Example- The New Deal(world war II not social programs ended it), Nixon's wage, price freeze and the ression under Carter. In the shot run I would be tempted to go with a bail out, since every time there is talk of a bailout stocks go up. I am retired and part of my income is derived from mutual funds. If they drop, it hurts me. In the long run though, we all pay for a bailout. The ression would be prolonged and those people who have been irresponsible in taking out bad loans or those that have given them would get the message that is ok. If thery get in trouble Uncle Sugar will bain them out. Bite the bullet and ride it out.
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