I agree with the first part. It is not cool that we have to see our taxes go to bailing out people who made uneducated decisions and are now in deep water. My family is here sitting on the sidelines, getting our financial house in order, doing things the right way, actually waiting to find a home that we can afford. Now other people are going to get relief for making stupid mistakes? I would much rather see our taxes go to bettering our education system, and see something happen with our health and social security crisis.

Personally, I do not think this mess will cripple our economy. I have been doing much reading about this stuff lately. From what I have learned so far, is that our home prices are way over inflated anwyays and we are due for a correction in the market anyhow. Now those who face foreclosure will feel as if the whole world has crumbled before they eyes, but not everyone else. If anything things should turn around soon enough to were we will be entering a buyer's market once again and be able to get into a home at a reasonable price we can afford. Which is why I don't think this is the solution.

This kind of reminds me of those parents that keeps bailing their kid out of messes. They become enablers. Kids never learn their lessons. They will keep making dumb choices time and time again.

All this "solution" is doing is bailing out big corporations (big mortage lender companies, etc) and avoiding the inevitable market correction that will happen anyways. It is just delaying the fall... Why are these lenders not being held accountable if they were the reason for sheisty lending practices to begin with?

I totally agree with you.

I should have underlined the if in the second part of my post. I am not an economist so I don't know if something like this has the ability to cripple an economy. I certainly agree with your analogy about the parents bailing out their children...some people think that is the government's role...

But,that is a whole other thread.