The Housing Bill

I am rather irritated by the recently passed Housing Bill.  While I have sympathy for the people who are facing foreclosure, the reality is that most of them are victims of their own poor decisions.  They elected to roll the dice on variable rate mortgage products because they were buying a house they really couldn't afford.  The dice eventually came up snake eyes.

Congress has now passed a bail out bill for them.  Those of us who didn't buy too much house and a chose more expensive but safer conventional mortgage are now forced to pay even more to bail out people who had to use a variable rate gimimck so they could buy a bigger, better house.  That's not justice.  That's socialism.  It's old fashioned, direct redistribution of wealth, right out of my family's pocket and into someone else's.

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