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View Diary: Hallelujah! THIS is the plan to adopt (67 comments)

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  •  Kudos to the Real Economy (1+ / 0-)
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    Jimdotz

    and its salvation.

    In connection with this and other plans the point is fairly raised,

    Why should people who took out prudent mortgages and are current on them as taxpayers be compelled to bailout both people who imprudently took on a big ARM that has now adjusted out of sight? And/or bailout the bankers who pushed the no-doc, no-money-down liar loans? If we bail them out, where is the moral hazard?

    Might I suggest, Jimdotz, as an adjunct to this that homeowners who accept a government re-write of their mortgage (giving up a piece of equity, etc.) also have X number of points deducted from their credit scores for a period of, say, 5 years?

    Would this impose a medium-term penalty while still offering short-term help and "reward" the careful and the prudent?

    Just an idea.

    Shalom.

    "God has given wine to gladden the hearts of people." Psalm 104:15

    by WineRev on Wed Oct 01, 2008 at 05:06:37 AM PDT

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