Goddamnit, government...
*Note, currency exchange rates in the following rant fluctuate based on the to-the-second value of the worthless, worthless dollar.
The Senate has decided to allocate $300 billion to bailing people out of the idiotic mortgages that caused the housing crisis.
I got it, the recession sucks and those of you who aren't in the World's Happiest Third World Country with me are feeling the pinch of paying $90,000 (3 Euro) for a gallon of gas. But goddamnit, do we really need to be spending $300,000,000,000 (8.5 Euro) to bail out the people who got us into this mess?
Mortgages are complicated, I understand that. Everyone wants a nice house so they can be like their favorite Desperate Housewives character. But seriously, guys, if you make $30,000 (0.6 Euro) a year, there is NO MORTGAGE IN THE WORLD that will let you afford a $700,000 (3.3 Euro) house, no matter what the bank tries to tell you. I see all these stories in the news an on the internetz featuring someone's sob story that inevitably goes like this: "Well, I'm a part-time mechanic at a Pep Boys, and I make $25,000 (0.1 Euro) a year. I got this loan where I put down a downpayment of $5,000 (.0001 Euro) on my house, which incidentally, costs half a million dollars. My mortgage rate was nice and low for six months, then it shot up into the stratosphere and I spent all my savings trying to pay it off, and now I'm broke and the bank foreclosed. Why do the banks hate the blue collar working man?"
I am by no means excusing the conduct of the banks, they're summy bastards, no doubt. But first and foremost, you have the responsibility to understand exactly the loan you're signing. If you can't pay, don't sign it. If you sign a loan you don't understand and then get upset when you can't pay and lose your property, guess what, it was YOUR FAULT. Greed and laziness took their toll, and it shouldn't be up to the taxpayers to bail your ass out.
The Senate has decided to allocate $300 billion to bailing people out of the idiotic mortgages that caused the housing crisis.
I got it, the recession sucks and those of you who aren't in the World's Happiest Third World Country with me are feeling the pinch of paying $90,000 (3 Euro) for a gallon of gas. But goddamnit, do we really need to be spending $300,000,000,000 (8.5 Euro) to bail out the people who got us into this mess?
Mortgages are complicated, I understand that. Everyone wants a nice house so they can be like their favorite Desperate Housewives character. But seriously, guys, if you make $30,000 (0.6 Euro) a year, there is NO MORTGAGE IN THE WORLD that will let you afford a $700,000 (3.3 Euro) house, no matter what the bank tries to tell you. I see all these stories in the news an on the internetz featuring someone's sob story that inevitably goes like this: "Well, I'm a part-time mechanic at a Pep Boys, and I make $25,000 (0.1 Euro) a year. I got this loan where I put down a downpayment of $5,000 (.0001 Euro) on my house, which incidentally, costs half a million dollars. My mortgage rate was nice and low for six months, then it shot up into the stratosphere and I spent all my savings trying to pay it off, and now I'm broke and the bank foreclosed. Why do the banks hate the blue collar working man?"
I am by no means excusing the conduct of the banks, they're summy bastards, no doubt. But first and foremost, you have the responsibility to understand exactly the loan you're signing. If you can't pay, don't sign it. If you sign a loan you don't understand and then get upset when you can't pay and lose your property, guess what, it was YOUR FAULT. Greed and laziness took their toll, and it shouldn't be up to the taxpayers to bail your ass out.