Liberty Just in Case

A Dialogue for the September 12th World

Are You A Liberal?…Great!…Hey, Could You Bail Me Out PLEASE?

Posted by Mark on March 30, 2007

So….here’s the scenario….you’ve married the woman (or man) of your dreams. You’ve likely made the single biggest decision of your life. Unfortunately, a few years into your union…for some reason, the marriage gets off track, and then just as suddenly- it gets unhinged, and you’re headed for divorce. Yah..big trouble lies ahead….but seriously, would you call the government to fix your marriage?

No….you wouldn’t. Of course not! So, then….how about the second or third biggest decision you ever make?

Borrowers, don’t hold your breath for a bailout.

As mortgage delinquencies soar, many consumer advocates and political leaders are calling on government to help what may ultimately be millions of homeowners facing foreclosure.But the modest federal and state aid proposals advanced so far suggest that most people struggling with onerous loan payments are unlikely to get government assistance.

The Bush administration has ruled out a blanket program to help homeowners stave off foreclosure, reasoning that it’s “not an appropriate role for the federal government,” White House spokesman Tony Fratto said.

Of course it’s NOT APPROPRIATE!

“Borrowers don’t hold your breath.”

Why is this even being ASKED OR DISCUSSED? You got yourself into the house…you signed the damn documents! Why in the name of Katrina would you expect the government to bail you out?

God…I loathe liberals. Someone get me some Prozac.

5 Responses to “Are You A Liberal?…Great!…Hey, Could You Bail Me Out PLEASE?”

  1. Jet said

    A slightly more parallel scenario might be one of you meet the person on your dreams, marry, and suddenly find out your perfect match is bipolar, bankrupt, and transgendered. None of which was presented as the case during courtship.

    I’m not saying a bail out is the answer Craig, but I do think lenders deliberately structured and made these loans without full disclosure, and profiled for gullible candidates. Not great business decision making on their part, and ruinous to their clients.

  2. Craig said

    Oh…it’s entirely possible that a spouse could misrepresent her/himself just as a lender could.

    The analogy is still apt. The govn’t wouldn’t be compensating me for my miserable marital dilemma nor should they for my horrible home loan- two of the biggest decisions you’re likely to make in your life.

  3. Mark said

    OMG. I find myself wholeheartedly agreeing with Jet. ๐Ÿ™‚

    The sub-prime mortgage crisis has hit both lender and borrower hard. Lenders made loans they know they shouldn’t have, and folks borrowed well beyond their means to pay back. I don’t think government bailout is the answer, but I still find Jet’s scenario to be quite profound. Great analogy!

  4. Jet said

    Not exactly the “dark side” eh, Mark? ๐Ÿ™‚ I don’t know what the answer is to the problems presented by these subprime loans, but I think we will see ripple from these foreclosures that will impact our cities, and part of the responsibility must lie with the lenders and the marketing efforts that went into these products. Just a crappy concept all around.

    I’ll further state that these products were designed with the intent to bypass regulatory efforts on lending, and frankly, if you want the government to get out of the business of policing business, ventures like this will hardly achieve that goal. Pretty short sighted strategy, IMO.

  5. Zaphriel said

    Welcome to the free market system… it will correct itself. people will be held responsible for and pay for (one way or another) for their impulsiveness. Rather than looking for a bailout the solution is to learn from it. The companies involved were foolish and will go out of business because of it.

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