I thought trickle down was a Republican philosophy. So far by bailing out A.I.G. and their ilk, nothing has been done for those in default on mortgages because of unethical lending practices. Who in their right mind would get a variable rate mortgage
to save 1% or less on their mortgage rate? Whe it was at 5%, it could really only go up. These people need to have their mortgage rates restored to what they thought they agreed to.
The bailout of wall Street must be a mentality of trickle down. Perhaps the Dems agree that by helping these bankrupt lenders they will restore their lending ability and they will suddenly act like good citizens!
Errrr! Nope!
Obama needs to let the bankrupt companies expire and give the "bailout" $ to the solvent ones that offer fair lending practices. Perhaps the credible fair companies could be given the opportunity to run the bankrupt ones.
Perhaps many of the "bad" loans could easily be rehabilitated by some cushion money or time and the changing of mortgage length etc.
To bail out wall Street and failing companies is simply a recipe for more trouble.
These agencies should also have to pay a fee to have regulation and inspections regulary.
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