I Always Liked Jerry Pournelle

Here’s another reason why:

People who made horrible decisions and bought houses without down payment and interest only loans will be bailed out by those who put up a down payment and took out a normal 30 year amortization loan and have made their payments all along. Perhaps this is a good thing. Ownership promotes a certain independence. But I suspect that things will be gimmicked so that in order to keep the house you should never been able to buy, you will have to continue to support the Democrats. But then I have a nasty suspicions mind.

On protecting Wall Street:
Of course when government forces banks to make bad loans, is there then a moral obligation from all of us to make the banks whole again? They were only doing what we told them they must do. I know, I know, we the people didn’t vote to force the banks to make bad loans; but our government did, and the Congress did, and we continued to elect those who did that, and we are now to cheer them as heroes for rescuing us from the financial collapse. Barney Frank, Chris Dodd, Pelosi, Reid — they were all for regulations requiring more sub-prime loans. Banks that didn’t comply were in a world of hurt.

Advertisements

1 Comment

Filed under Politics

One response to “I Always Liked Jerry Pournelle

  1. See, I agree with you on this one. I think the WHOLE bailout is obnoxious, honestly. Those bankers knew what they were doing, and SO DID THOSE PEOPLE. I don’t have a mortgage, I drive a 10 year old car that is almost not big enough, and I haven’t had a credit card in 14 years. I have ZERO debt.

    Why? Because I refuse to live beyond my means. I’m sure I could have gotten a home loan last year. I’m sure someone would have put me in a car at 15% interest or more. I don’t need any of that stuff. I need groceries and heat. I need a car that gets me from A to B. That’s it.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s