Hillary Clinton has come out in favor of bailing out the little guy who was stupid just like the big Wall Street financial firms.
Interviewed on Tuesday morning on CBS’s “The Early Show,” she said she agrees that the situation is critical and that something must be done quickly. She said, “the house is on fire and we’ve got to call the fire department and put the fire out.” But Clinton also said that Congress should not “give the Treasury a blank check” to straighten out the problem.
“What we also have to do is make sure that homeowners get some relief, that it’s not just for the banks and the lenders,” she said. Clinton added that “we also must begin to look at the root cause of this, which is these mortgages that people cannot afford.”
So I refinance my house twice. Each time to take advantage of low interest rates and move higher interest rate debt into lower interest rate debt and lock in a nice low fixed rate. I didn’t go out and buy tons of crap with the equity in my house. I didn’t move to a larger house with an adjustable rate that I wont be able to afford. My wife and I didn’t run up credit card debt. Yet we are no supposed to help out the people who did all of these irresponsible things?
Lets think about this kind of policy that the Senator from New York is trying to foist on us. It basically says, “Here, we will help you out for being a complete dumbass. And you, the household that made wise and responsible decisions…we are going to screw you till it hurts.”
Thanks Hillary. With friends like you who needs enemies.
