This little piggy went to market…
And was crushed by fear and panic and a well-meaning clod of a government.
When is the bottom coming? I somehow don’t think we’ve reached it yet. And although I don’t think it’s necessarily Obama’s (or McCain’s) fault that the crisis is as bad as it is, I honestly don’t think it’s helping Wall Street or any investors to know that, no matter what, someone who thinks government intervention is the answer will be the next president of the U.S.A.
If government intervention was the answer, wouldn’t the buy-out of Fannie and Freddie have helped? Wouldn’t the $700 billion “rescue” as McCain recently called it, have helped? And neither have. The market correction will not be stopped, and is worse because of government fiddling. Stop. It. Now. Haven’t you done enough, Uncle Sam?
Why are we rewarding bad behavior — by banks AND numb-skulled politicians and unrealistic people who think they can put everything on credit card. Free money!
I respect McCain for attempting to lead on this issue, but he’s leading in the wrong direction. (Of course, raising taxes on small businesses and others as Obama would do is much worse). Why should we as taxpayers directly buy these mortgages? Why.
Perhaps we should stick with the very very … generous current law (a Democrat bill which is significant government intervention in and of itself) , that does help people who want to stay in their homes, but not those who are simply flipping properties or who have already given up.