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Originally Posted by Locobot
This radio show helped me understand the issue quite a bit better:
http://www.thisamericanlife.org/Radi...spx?sched=1242
One thing that has become clear to me is that the credit crunch/mortgage crisis IS a part of the current Republican fiscal policy. They want the local property tax base to disappear so that local governments and schools are bankrupted. Notice that the only measures they're willing to take are to help out the banks, not property owners.
One of the fascinating parts in the show linked above is when they talk about how peoples mortgages have been sold and split so many times that even figuring out who is owns them can be daunting. |
I beleive they are trying to help out the banks because in doing so they save the entire sector which is thousands of jobs versus saving individual homes which is just for the individuals.
Personally they shouldn't be bailing out anyone.
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