Quote:
Originally Posted by Retire Soon
In a Wall Street article, entitled, "Some Cry Foul Over Relief Plan for Borrowers," some readers raised some valid points against Paulson's Plan. Here are some of these:
1) How far should we go to help borrowers who can't pay their bills.
2) What are we going to do when they can't pay their credit card bills too?
3) We're just postponing the inevitable. The more government steps in, the more we get into a deeper quagmire.
4) Many would-be homeowners have been working hard to save their money to buy a home and have waited patiently for prices to go down. Now big government is trying to re-inflate the bubble.
5) Many readers who lost thousands of dollars in the burst of the dot-com bubble wonder why the fed did not rescue them.
6) One individual was reminded of a TV commercial that went like this when the announcer asks: "Do you owe back taxes? A client responds, I settled for half of what I owe." How is that fair?
This is my own personal viewpoint: It is sad that we now live in a society where individuals are taught not to take responsibility for their own actions. When they make poor choices, they can always count on someone to give them a helping hand, regardless of who caused their problems in the first place. How will anyone ever learn from their own mistakes? How can we possibly ever expect to teach responsibility to our children?
Some Cry Foul Over Relief Plan For Borrowers - WSJ.com
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Oh, what'll you do now, my blue-eyed son?
I'm a-goin' back out 'fore the rain starts a-fallin',
I'll walk to the depths of the deepest black forest,
Where the people are many and their hands are all empty,
Bob Dylan
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