Fix Congress's Housing Fix

You bring up a good point, but you will still be paying for this with tax dollars when the government steps in and bails out all of the "other players" in this mortgage mess. To blame just the buyer is absurd. You know it started with the banks, mortgage brokers, investors and the like. Remember that the homeowner was the final recipient of the proceeds. So it passed through many corrput hands before ever getting there. I too bought a house that I can afford, and I am not in trouble. But to think that this is just the homeowner or "renter" is narrow-minded.

Vivienne of CA 3:17PM July 15, 2008

This idiocy of bailing out people who took out mortgages they could not afford must be stopped.

Even if you dropped out of school in the fifth grade, you can still use a paper and pencil and figure out that buying a 350,000 dollar house on a 40K a year salary was impossible. Any "buyer" doing that was really renting it, because actually owning it was never going to happen. When someone doesn't pay their rent in an apartment, do you cry for them when they don't pay? No, you make them move.

I'm one of the millions who bought a house I could afford, put down a real downpayment, paid points for an interest rate that was locked, and used a bank with decades of experience. And now I'm going to be bailing out morons and speculators with tax dollar instead of paying for my kid's college educations?

any congressperson who sponsors that is as dumb as the people they are purporting to help.

Screaming Angry of NC 9:55AM July 11, 2008

Mr. Zuckerman points out correctly that bad loans are the cause of the current problem. His "cure" is a bailout of the irresponsible profiteers to some degree. This is no cure; it is more disease.

The correct cure is to do nothing and let the jerks reap what they have sewn. Everyone will be much wiser if that is the "cure". Any action to "bail these common dogs out" is a bad plan that punishes all for the misdeeds of a few. Those few ate their cavier, now they need to eat their beans and rice like others they so don't want to be like.

Mark Bennett of KY 3:52PM July 09, 2008

Thank you for your honest reporting.

We should demand that Congress remove any element of the Bill that bails out the Banks and other lenders. The Bill being proposed is almost identicial the suggested bill submitted by Bank of America. As everyone knows, B&A just bought out Countrywide and apparently wants the law enacted so it can dump all of Countrywide's bad mortages onto to the tax payers and start making fast profits.

of FL 10:07PM July 02, 2008