I'm not even going to pretend to know what's going on right now on Wall Street. Best I can tell, people got greedy and people got sloppy. Now, they need to be bailed out or we're in big trouble.
Now what I do understand is why it's ridiculous to have the federal government bail out homeowners who can't pay their mortgage. Why on Earth should my tax dollars bail out some person that bought a house that they couldn't afford? Doesn't some personal responsibility come into play here?
I saved my money, and took time to study and learn about home economics before I purchased my house. So far, so good. It's absurd that some politicians (mainly Democrats) want to bail out people that weren't responsible. Well, where's the reward for those of us that ARE responsible? Where's the handout for those of us that save our money and budget so we CAN afford our homes? What's the incentive for people like me that did things the RIGHT way?
