Credit Crisis Bailout

Everyday I hear some news on the Government trying to find ways to bailout irresponsible people due to the credit crisis. Take the irresponsible homeowner who wanted to keep up with the "Joneses" and decided to buy a home that they knew they couldn't afford but in the mist of wanting everyone to say, "OoooH!! you have a nice home!", they took out the ARM or Interest- Only loan anyway. Now, the government want to help these people. Take the irresponsible bankers who approved all these bad loans so they could get bigger bonuses or a new Yacht or whatever they wanted. Take the irresponsible Freddie and Fannie Mac CEO's who bought all these bad loans with no questions asked.



One question?



1. What about all the responsible people who waited 5 - 7 years to save up a down payment to put on a home and get a good interest rate and a fix rate mortgage?



2. What about the responsible people who lives within their "means" and continue to pay their bills on time?



What about Me?



I have to watch the value of my home decrease because of these irresponsible people.

I have to listen to how the government tend to reward people for making ignorant decisions in life.



Now lets take one moment to think about this: When they bailout all these people, it's only going to make the economy worst. Why? Because after all the bailout, these people are going to have bad credit and they will not be able to take out loans to buy new houses. Their not going to be able to get credit cards to help the banks. They will still continue to make bad decisions and so therefore, they are not going to have money to spend to help the economy.



So, let's help the responsible people out there. Why don't we re-adjust the value of the people homes that are not in trouble so our payments could be lower. That means that the responsible people will have more money to spend on home improvements, new car sales, or become an investor and buy some of these foreclosure homes. See, the economy will benefit more if you help the responsible people because we know how to manage money and make wise decisions.



I'm writing my Congressman and I hope my readers will due the same!!