Given that all of these financial institutions are failing because of bad mortgage loans—?
by Mortgage Rates on Tuesday, October 12th, 2010 | 2 Comments
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Unfortunately, it isn’t that simple. It involves the complex debt instruments they packaged these loan into and sold globally.
Isn’t that just another bailout using tax payers dollars?
Why should the taxpayer have to bail out someone who purchased a home that was far more expensive then they could afford?
Why should the taxpayer have to bail out banks who gave out loans to people that did not have the resources to pay it back?
We obviously will have to bail out someone….but I want to see a plan where neither side will benefit. Take away the banks profits and assets, and restructure the loans so the homeowner can pay the loan off…but not necessarily for a lesser amount.