01-23-2009, 12:35 AM
Quote:Your argument is fallacious. All taxpayers do not have loans, and for the subset of taxpayers that do have loans many are perfectly solvent. Then again, all loan holders are not taxpayers. For example, the people who justify a home loan on AFDC and welfare payments.
Your implication however is that loan holders created the mess, and specifically the loan holders who should not be loan holders. That was one subset I mentioned. The other culprit I mentioned was the lenders who offered risky loans and repackaged them into MBS's. Not all lenders, just the ones who were stupid and took the stupid risks.
You might as well broaden the category to "humans", because after all it was "humans" that created this mess. All "humans" must pay!
I would like to add to this that in the past few months, several well known companies have tanked, costing thousands upon thousands of jobs you would of considered "secure" in banking terms. It seems this whole bailout discussion really started *before* all of the massive layoffs and big-name store closures going on, so factor in the thousands upon thousand more people who now can't pay for their homes, and you have an even bigger mess than a measly $700-billion can afford. I don't think anyone thought it was going to get this bad, and the sad part is economists have it penciled to get "much worse" before it gets better. I'd like to see what Obama has planned for the rest of that $250-billion, and wouldn't put it past congress to raise the ante even higher before the years up.
"The true value of a human being is determined primarily by the measure and the sense in which he has attained liberation from the self." -Albert Einsetin