Your Pouring The Wrong Way

[I’m sorry for any ranting and poor writing this subject is just to dire.]

Wednesday, June 23, the Housing Bill was passed through Congress and the House. I’ve reviewed what little information they are giving the public and it’s only going to affect a small majority of homeowners, approximately 400,000. The main benefactors to this bill, however, are Frannie, Freddie and other lenders. The fact still stands that overtime the average American is going to be taxed for the problems of others

The bill will offer bailouts on houses up to $550,000 which in most cases would be relatively higher than median pricing in any area,  with exceptions for a few areas (i.e. California). This is just ridiculous; if you’re going to offer this to former defaulters you’re a fucking retard, or a member of Congress. This is a horrible incentive to be offering, it’s just going to show them that they weren’t responsible for their problems, each party will point the finger at the other.

I think someone should have thought this thing through, at 600 pages you would think that it might be worth something, yet nothing except tying the government to corporations. I think if anything we need to bolster economic centers of growth but we can’t be bailing people out for every problem, yeah I’m calling you out Dems. We need to develop a plan that can actually help rather than just boost morale for a few months. We also need to show that we don’t support weak economic decisions by people, how about starting to teach basic personal finance and economics in our Middle and High Schools.

Our lending market filled itself with greed and ditched common sense; they offered poorly qualified people opportunities that they could never afford. These people only thought about margins and not about the chance that everyone else would be going after the same niche in the market, sub-prime borrowers. Now we, the American public, get our asses taxed off until we default or our jobs get taxed to the brink and they collapse leaving us jobless and then we default. This isn’t going to help it’s just there to ease the trip down.

So it looks like I’m going to have fun as a responsible spender over the next several decades. Hooray for the assholes back in the 90’s and early-oughts, for flipping me and my generation over and fucking us in the ass. It really fucking stings to know that simplicity and release from branding, no matter how non-conformist, doesn’t help you separate far enough to escape bailing out the people bound to consumption. It’s time to stop praying for the money to come in, and learn responsibility for your actions.