[StBernard] From a blog I read

[Westley Annis]

Paulson & Bush push for subprime rate freeze
<http://www.americablog.com/2007/12/paulson-bush-push-for-subprime-rate.html

> 


OK, so what's in it for the millions and millions of Americans who actually
didn't buy into this rubbish? Why should they be penalized
<http://www.bloomberg.com/apps/news?pid=20601087&sid=aCw8VJ4HV61E&refer=home

>  for taking out traditional loans with higher rates and paying them? What

about the others who didn't jump into the real estate circus because they
couldn't afford the high costs and were uncomfortable with the problems now
dragging down the system.

The Paulson/Bush bailout has everything to do with bailing out the big
financial organizations who created this problem (together with Greenspan
and the administration) who now want a lifeline. Any bailout such as this
will definitely be viewed as the middle class taking it on the chin for the
umpteenth time, despite the middle class doing the right thing. They've paid
for the war, they've watched the wealthiest Americans have their taxes cut
during a time of war and now this. Sheesh. It's unfortunate that so many
bought into the subprime loan story, but it's not the fault of everyone else
who didn't so why should they get stuck paying?

How many more times will Washington stick it to this group? Is the middle
class such a bunch of chumps that will just sit there and take it?
Absolutely not and people are getting fed up with paying for everyone else's
problems. Everyone has limits and this new plan is hitting the limits of
acceptability for the American middle class.

Jim