Government loan bailouts

So, now everyone wants to be bailed out of their mortgage. No one wants to take responsibility for their bad choices. "I either want less corruption, or more chance to participate in it". Ashleigh Brilliant.

Our leaders have created a government, along with thousands of lobbyist that has corrupted our own expectations. The 35,000 lobbyists in Washington remind be of a bunch of piglets rooting and squealing, trying to get to the mother's teats, and the mother cannot say no.

From Yahoo News- While there is little enthusiasm for government bailouts in general, voters are increasingly demanding immediate government relief as the economy ebbs.

The Fed-engineered bailout of investment banker Bear Stearns and other assistance to financial institutions has further raised expectations. To some, the $30 billion JP Morgan-Bear Stearns deal also raised a fairness issue: Should the government bail out a prestigious investment bank while doing little to address the hardships of Americans facing foreclosures on their homes, or caught in other troubled segments of the economy, such as laid-off factory workers?

Barack Obama, Hillary Clinton, John McCain, and now President Bush, have a plan to deal with the credit crisis. They all have a plan to save us! We want to be saved so we can watch American Idol, shop till we drop, and stop worrying. They are desperately trying to prevent home prices from declining so the local tax revenues will not fall. I thought they wanted affordable housing! Well, they are getting it.

With untold billions spent on 12 years of "free" government schools, AT&T cannot find 5,000 qualified people in this country to fill positions in customer service! I know, we can ask the government to come up with a plan.

The head of the top U.S. phone company AT&T Inc (T.N) said on Wednesday it was having trouble finding enough skilled workers to fill all the 5,000 customer service jobs it promised to return to the United States from India.

Some of these problems can be traced directly to government programs that contributed to the decline of the family. Families are now less dependent on each other and are more dependent on the government. Families who borrow too much money to buy a house are bailed out by the government. These families never learn risk management and how to teach the same to their children.

With governments stepping in to reward bad decisions, parents in the future will tell their children to borrow, borrow, and borrow!

I heard a man at the dog park say, in regards to the credit crisis, "We have to 'control' greed." The favorite fascist word he used is 'control'. He is filled with envy, and the desire to control others. He is a closet tyrant. He wants the government to control the greed of others. He does not know they will also control his greed!

He, and many others, thinks predatory lending was the cause of the credit crisis and something must be done.

Predatory lending does not affect the decisions of most consumers. Most borrowers only ask if they can afford the monthly payment. It does not matter if the rate is 6% or 20%. They do not think about the interest rate. With 12 years of government schooling, consumers do not understand contracts and the benefits of fiscal responsibility. The lender will have competition from the home seller, or merchant, who wants to mark the price of their goods or services as high as possible. Someone has to mark their price down, the seller, or lender, to accommodate the consumer who is buying on credit. Most consumers buying on credit will ask, can I afford the monthly payment.

The foreclosure rate on cars, 3.4 % is higher than the foreclosure rate on homes, 2%. Consumers bought a depreciating asset, cars, which the consumer could not afford. Should the government bail them out? Or should the consumer be required to buy a smaller car she can afford?

Of course the government is an enabler in predatory lending. The interest on a home mortgage is tax deductible, thus encouraging people to borrow. The government enabler wants people to buy homes so the prices of homes will rise, thus guaranteeing the government mob will get a bigger cut of the economic pie through property taxes. I call them the government mob because they produce nothing, then they confiscate a portion of our production using force and aggression.

If home prices had kept rising at the unsustainable pace, we would not hear about a credit crisis. Everyone would be happy, watching "American Idol".

Charles Tolleson