Free Mortgage Monies Provided By Us-The United States Taxpayers! Yep, us! I am so happy that the elite United States Senate has developed and will enact shortly into law a complete bailout of the United States Banking, Mortgage and Housing industries. Led by our illustrious and corrupted Senator Chris Dodd, taxpayers should be preparing for a grave sticker shock when this bill becomes law. And if you are a special interest group your ship has come in! The reckless amendment to allow Hank Paulson a blank check to bail Freddie Mack and Fannie Mae out is obscene from an economics point of view. What gives him that right?
Maybe, just maybe it is time for the chips to actually fall and clear out the excessive bad debt in these markets and allow real supply and demand to operate in these markets again. The demand is not there at this time for these excessively large homes which have driven our children out of Connecticut since they can not find affordable houses to start their families.
Let the giants fall, our economy will be strong enough to recover without further wasting taxpayer dollars.