02-18-2009, 09:38 PM
Gutenberg, could you clarify your comments for me? I suspect others understood what you were saying, but I did not. thank you.
As an interesting side note I just got back from a board meeting where a lawyer was very frustrated that a portion of the bailout money will be going to speculators or to people who made incredibly bad financial decisions. He made almost the same comment that kj made, that we are essentially subsidizing someone's lifestyle. I would have to admit I agree but I don't know how any criteria could be setup to exclude those people and still accomplish the goal of keeping people in their houses that otherwise would lose them. Perhaps exclude mortgages that are not on primary residences would be a start?
As an interesting side note I just got back from a board meeting where a lawyer was very frustrated that a portion of the bailout money will be going to speculators or to people who made incredibly bad financial decisions. He made almost the same comment that kj made, that we are essentially subsidizing someone's lifestyle. I would have to admit I agree but I don't know how any criteria could be setup to exclude those people and still accomplish the goal of keeping people in their houses that otherwise would lose them. Perhaps exclude mortgages that are not on primary residences would be a start?