Read the Bills Act Coalition

Thursday, December 6, 2007

Bad Decision/Bad Consequences

The Department of Treasury has put forth a freeze on sub-prime loans made between 2005 through 2007 for people that have less than 3% equity, in their homes, will be unable to pay mortgage once rates increases along with other qualifying measures. I feel for these people since they shouldn't have been given a loan in the first place and have a lot of problems with the sub-prime market in general(trust me sub-prime auto loans are next) but when will we as a country stop looking to the government to bail us out of bad decisions. The real reason this is being done (the DEMS want to take it even further with a foreclosure moratorium) is the effect these foreclosures will have on the overall US economy. We are teaching our children that they are not responsible for their actions when these measure are put forth and the government needs to stop legislating what is “good” for the population as a whole…for every action the government takes to “help us” we citizens give them a little more of our freedom. Story here: http://apnews.myway.com/article/20071206/D8TBKLOG0.html

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