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The mortgage industry took a big hit not too long ago when a major lender ended up having to be sold off at bargain basement prices along with a huge load of government bailout money to go along with it. Now with more major financial institutions looking at serious trouble, there’s talk going on about he shot of another government bailout to keep the economy from suffering any more than it already has. The problem I have with this is that while it may even be necessary for such a bailout because of the really bad impact it could have on the economy of this country and even the world if it isn’t done is that the ones that will actually benefit from this most isn’t the little guy. It’s going to be the executives with their Nautica watches, chauffeur driven limos, two and three houses and so on.
The ones that get hurt the most from the disasters and near disasters going on is the little guy. Joe and Jane Average that are just trying to get from one payday to the next and finding it harder and harder to do. Oil prices go up, gas prices go up, food prices go up, their home is in trouble because their mortgage company or lender is in deep financial crap and they’re only hoping that they don’t end up in foreclosure because of all that crap.
Bailouts may be necessary, but wouldn’t it be neat if somebody in Congress would stop to make sure the little guy didn’t get squashed either?
Technorati Tags: bailout, government bailout, financial crisis, mortgage, money trouble
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I don’t even think their necessary….I mean that seems a little more like Socialism than Capitalism… then again it seems I’m in a growing minority in America. However, given the choice, I would much rather (like you) see the little guy helped out, but I digress
Funny Forwardss last blog post..NEW PREAMBLE TO THE CONSTITUTION