It would appear that in the infinite wisdom of the government, it needs to use my tax money to start bailing out private companies left and right because they would totally kill the economy. Well, if these companies are going to be bailed out by me and my tax money, whats in it for me? I'm the average citizen who isn't in financial trouble, I pay my mortgage and my taxes on time, and generally don't give a crap what government does as long as my life keeps humming and no one is raising my taxes.
Now with this bailout I expect a little something in return, some interest would be nice but seeing that most of this is for bailing out companies that bought troubled mortgage securities a really nice thing they could do is to reduce my mortgage. There are tons of people that over stretched themselves when they bought their houses and they are allowed to "re-negotiate", so why can't I? I don't think its fair at all to punish people that are making regular payments on their mortgages while people that can't pay have the ability to make some adjustments to keep them in their homes and maybe get the chance to pay lower payments while I'm still chugging along while watching my home value tank.
The fair way to do this would be to take an assessment for say 2008 for all property and renegotiate all outstanding mortgages and re-adjust them so todays value is the baseline for payback to these troubled firms. Granted the firm I'm with is just fine and dandy but still, it would be nice to give the benefit to everyone. Oh and one more thing, I want a stake in any of these companies that need a bailout. I want stock or something that I can hold on to and cash in later for some profit. If my taxes are fueling a bailout I deserve a little something something in my pocket book and not see it go to the government to fund some other social program I will never use. We need to take care of the 95% of the people who benefit from programs and stop focusing on the last 5% because the return on investment just isn't there to the average joe.
Now with this bailout I expect a little something in return, some interest would be nice but seeing that most of this is for bailing out companies that bought troubled mortgage securities a really nice thing they could do is to reduce my mortgage. There are tons of people that over stretched themselves when they bought their houses and they are allowed to "re-negotiate", so why can't I? I don't think its fair at all to punish people that are making regular payments on their mortgages while people that can't pay have the ability to make some adjustments to keep them in their homes and maybe get the chance to pay lower payments while I'm still chugging along while watching my home value tank.
The fair way to do this would be to take an assessment for say 2008 for all property and renegotiate all outstanding mortgages and re-adjust them so todays value is the baseline for payback to these troubled firms. Granted the firm I'm with is just fine and dandy but still, it would be nice to give the benefit to everyone. Oh and one more thing, I want a stake in any of these companies that need a bailout. I want stock or something that I can hold on to and cash in later for some profit. If my taxes are fueling a bailout I deserve a little something something in my pocket book and not see it go to the government to fund some other social program I will never use. We need to take care of the 95% of the people who benefit from programs and stop focusing on the last 5% because the return on investment just isn't there to the average joe.
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