Stop the Housing Bailout

A new web site (and organization) has launched to help spread awareness about (and their disdain for) the state-sponsored bail out of the housing and mortgage industries currently underway.  Stop the Housing Bailout is encouraging citizens to contact their congressmen and women to urge them to cease using public funds to prop up the housing asset bubble and institutions that helped get us to this point (see Bear Stearns, et al.)

From the Stop the Housing Bailout Web site:

This site is dedicated to stopping the government’s planned bailout of the housing market.   A bailout requires responsible Americans to pay for the acts of greedy bankers, mortgage brokers, flippers, and over-extended homeowners. In other words, the government wants you to pay for the blunders of others who knew, or should have known, better.

The group asks the unanswered question: Why should responsible Americans be forced to pay for the mistakes of others?

It’s a great question to be asking.  I’d especially be asking it of the Bush administration and the Obama and Clinton camps who keep proposing multi-billion dollar bail out schemes.  They are both wrong for completely different reasons.  Bush keeps pumping cash at Wall Street, who already made a killing, and Obama and Clinton want to foist cash on the homeowners which will certainly come at the expense of higher taxes, reduced public funds for things like health care and education (you know, stuff that everyone needs).

So head on over and write your congress-person.  Ask them the unanswered question - and DEMAND answers now and at election-time.  Your future is riding on their decisions.

This post was found on BlownMortgage
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