It looks like both Leon H. Wolf and Erick Erickson are now bending over backwards for a $700 Billion Bailout! And on top of that, another article in support of the bailout is promoted to the front page.
Is Moe next? ((Ops, spoke too soon...))Common people, what is wrong here? I thought this was a conservative website? Has DailyKOS taken over and parading around as our Directors or what?
When the S&L crisis hit us in 1987, we bailout WallStreet and we are about to do it again! Haven't we learn our lesson yet?! Do you want to know the definition of insanity? Doing the same thing over and over agin, and expecting different results!
Stop the bailout! The bailout won't save the mortgage market, it will out-right kill it! Think about it:
If MBS are sold off to the government, then the risk alone belongs to the government! Millions of homes will be abandon and you will see the complete collapse of realty!
I work for a motel that has a bar located inside. So I have a customer who works for time shares and he tells me that they would go out of business, the very next day the bailout is passed! You think getting a loan now is rough? Think about what will happen once the $700 Billion disappears after the housing industry really bottoms out.
You guys need to stop and think what we are doing here. You are abandoning your principles when we need them the most! I'll leave you with some words of wisdom and I hope you take them to heart, real quick.
The ten most dangerous words in the English language are "Hi, I'm from the government, and I'm here to help." -President Ronald Reagan
((Note: The lines "Do you want to know the definition of insanity? Doing the same thing over and over agin, and expecting different results!" was added after being published.))