Notatumor’s Weblog

This is a rant from Mr. Santelli – I’m sure if you follow news at all you’ve already heard about this:

While I think some parts of it are over the top, it does touch on a nerve that a lot of people (including me) have exposed:

If I’m taking care of my bills and mortgage, why should someone else get bailed out with taxpayer money?

Now I understand the whole macro-economic arguments for doing this.  However, it seems to me that we have this abject fear of allowing people/companies/businesses to ‘fail’ and go into bankruptcy.  There’s where I have issues – I think bankruptcy allows people and businesses to restructure and re-allocate.  If you go into bankruptcy, and you can’t afford your house anymore, then maybe you do need to move.

I guess I don’t believe just because you bought a house, and now you can’t afford it, that you have some sort of inalienable right to that house and the government should come in and bail you out.

And for those of you who do think that the government should come in and lower your rate and restructure your mortgage,  and none of this is *your* fault, everyone was doing it…