Cue the violins. Yes, I lost my home. I didn't think I was being irresponsible. I didn't buy out of my price range. I didn't take a seductive low intro APR. In fact, my story is quite common . .
Finally got a decent job about seven years ago. Bought a little bungalow. Car died. Bought a used compact (with a loan). Old house needed work, lots of work. Used my credit cards. Then my job was sent to India. Couldn't get another making even close what I earned before. Tried to sell the house with no luck. I now owed more on it than it was worth. Couldn't even get a short sale. I had to beg the mortgage company let me do a "friendly foreclosure". They agreed since it was already on the market and (now)in good condition (They sent somebody to check it out with a fine-tooth comb). I signed it back over to them and moved out. Whatever they lost on the final sale, they would write off, and the IRS would add it to my income and tax me on it.
It still didn't sell for months. I'd drive buy hoping to see a new family there. I think they finally auctioned it off a month or so ago. I have no idea how much I'll get hit for next tax season. I'd originally hoped no more than 30K, but now I'm afraid it may 60K or more.
Looking back, it could be argued I made some bad decisions. I shouldn't have assumed my job would last forever. I should have had the house checked out better before buying it. Whatever it was I did wrong, I'll have to pay for it. I'll be sending those payments directly to Uncle Sam, in installments, for years to come.
And finally I come to the point. About these big companies my tax dollars are bailing out now, how much are these failed CEOs going to pay, the ones who made much worse decisions than I'll ever make, the ones who received golden parachutes and will retire in obscenely wealthy obscurity while my 401K fades away, how much money will they have to pay the government for bailing their sorry asses out?