Congress is not all bad

So the plan to drive American into way too much debt and make Uncle Sam the first middle and last word in the home loan world was stopped, sadly not by much. On the news that tax payers would not compensate Wall Street for all there losses the Dow took a small crash. This would be is really bad for anyone wanting to cash out their stock this week. On the up side it is clear that Americans are not yet ready to sign on for wholesale government control of their lives. No we need to remove any regulations and laws that may have forced banks to issue high risk loans. Once this is done we can tell the banks that their problems are their problems.

Anyone who loans a person with poor credit way more money than their house is worth deserves to be bit in the hinny. I won’t pretend to understand the full extent of government causing problems for the banks to make good decisions on loans. In as mush as a bank was required by law to issue bad loans they should be compensated for losses on that loan. In as much as the school system has not taught people basic math very well the teachers union should be fined severely. Um let me see I can get a house and pay $X a year, but in 5 years I have to pay $x+500 but will only be getting about a $100 a month raise in that time. Yup I can do that. Okay its not the teacher's union fault entirely, but it is not the fault of the average citizen. Risk is a part of business companies that take risks they can not afforded to be wrong on go under. It hurts, but that is life.
If we bail out every business that goes south the country will be filled with failing businesses all demanding the tax payers pay them for their loses. The nations largest banks are not more entitled to tax payer money than Joe’s gas station on the corner. Again the one exception being for bad policies mad by the government, but this should mean we change policies not assume the debt.