Glad There Is No Financial Bailout Yet

by Matt
(Tallahassee, Florida USA)

Regarding Good! There Is No Financial Bailout Yet: Glad there's no financial bailout yet. Well guys, I'd like to be mad at you for deciding to take a few days off after doing nothing productive at all. Unfortunately whether a bailout was agreed upon or not, it probably would not have made much of a difference, if any at all.



Playing politics and trying to accomplish good things for the American people just doesn't work too well.

All of this mess was caused by the companies that you are trying to assist creating bad loans to people who either did not know what an adjustable rate is, or buying more than they can afford, like most Americans do everyday. This is not the best solution. Giving them more money, to create more credit losses? Seems to me like putting a band-aid on a bullet wound.

So overall, I have to say that I'm glad that no agreement has been reached on the financial bailout package. Nevertheless, I'm still wary that an agreement will be reached and not a soul in this country will be enriched and wiser for the experience.

I don't have the solution, if I did, believe me, my voice would be much louder right now. At the same time, I'm absolutely positive that arbitrarily giving money to assist with bad loans and bad credit given to bad consumers will not change a thing.

If you ask me, we need to let these irresponsible companies crumble. Let people lose their insurance. Let them lose their homes. I know it sounds harsh, but if no lessons are learned in this and everything in the market just goes back to normal won't the same thing just happen again in the near future? Both the companies and consumers will just recall this very economy and think. Hey, last time this happened, the government was here to help us out. They'll definitely be around this time too.

Matt from Tallahassee



Return from Glad There Is No Financial Bailout Yet to Get Your Best Mortgage Rate




Click here to add a comment.

You can also ask Kate about your mortgage at The Ultimate In Mortgage News.

Recent Articles

  1. Kate's Mortgage Rate Report August 11: Rates Bouncing Like a Ping Pong Ball

    Aug 11, 16 10:49 AM

    Kate's mortgage rate report for the week ending August 11, 2016: Rates Bouncing Like a Ping Pong Ball
    Mortgage interest rates have been bouncing like a ping pong ball: After last Friday's strong job report began pushing up mortgage rates, the market is now hinting at a reversal, with the 30-year hover…

    Read more

  2. Ask Kate how to avoid unauthorized mortgage rate extension fees

    Aug 11, 16 10:18 AM

    Ask Kate how to avoid unauthorized mortgage rate extension fees
    Ask Kate how to avoid unauthorized mortgage rate extension fees:

    After locking in her rate, the bank sent a Texan homeowner, Laura, notification of several thousand in fees that she must pay in order…

    Read more