Ok, I’m back to blogging. This week was a very hectic week for my family, and I had to put it on the back burner. I’m back now, and hopefully I won’t have to stop again for a while.
This past week, we all witnessed a the debate, heard sound clips from rallies, and saw the stock market fall everyday. Both candidates believe something needs to be done to bail out wall street and main street. While we wait to see if the first bailout bill will be effective or not, I have two lingering questions that neither candidate has addressed.
1) Once bad mortgages are bailed out, and families are rescued, what are you going to do to make sure that the same thing doesn’t happen again? Sure, some people were blind to what they were signing. I’m sure though that the majority got into this mess becase they were greedy, and were presented with an opportunity to purchase something that was well above their means.
I firmly believe that if we are going to bail these families out, then we need to provide them with some courses, reading materials; anything. Because if we don’t, then it’s going to happen again, and it could hit even harder.
2) My wife and I were offered an ARM loan. We discussed it with our lender, and asked all the questions that we needed to. Because we asked the right questions, and knew what we could afford, we avoided the loan and stuck with the conservative 30 yr. fixed. My wife and I know that we are not going to be here for 30 yrs. but it was the best option for us.
So my question is; what is the government going to do to reward us and the other homeowners who knew that ARMS were very dangerous? See, all I see is the government bailing out the banks and families that got us into this mess, and handing the tab to those that were responsible. I believe that if the government is going to bail out those who got into the mess, they need to reward those who avoided it.
This is why I disagree with the democrats when it comes to butting in. They always create programs for the less fortunate; and then hand the tab over to those who don’t use them and say things like: “Paying taxes is patriotic.”
Finally I’m scared. We are less than 4 weeks from possibly facing a democratic president, judiciary, house and filibuster proof senate. Be afraid… be very afraid.