Sub-prime Problem, Socialist Fix

This is coming from Americans for Prosperity:

“Taxpayers shouldn’t be on the hook to bail out borrowers that chose risky loans or purchased house they couldn’t afford in the traditional mortgage market. And government shouldn’t intrude on the freedom of individuals and businesses to engage in risk-taking, which is key to creating economic growth. But some lawmakers want to turn gloomy stories from the sub-prime mortgage market into an excuse for increasing the size and interference of the federal government.

The House is set to vote on legislation that would regulate away the American Dream as soon as Thursday, Nov. 15, so your immediate action is important.

This bailout will do nothing but assure that we will have more sub-prime housing busts. This will lower the costs of failing, making people think that they too can own a home and if they fail, “oh well the government will bail me out.”

Think of this as amnesty without border control. The people who came over illegally and got amnesty will encourage the next generation to come over expecting the same treatment.

Not to mention, we the taxpayers will be paying for these busts again and again.

This bailout will make people looser with their money and will cause banks to be even more strict on loans.

…..And the last thing we want is Americans not owning their own homes…..

~PCCapitalist

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Published in: on November 15, 2007 at 3:42 am  Leave a Comment  
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