Unless you live under a rock, it’s hard to live life without hearing something about the market bailout. Whether you get the news from the local paper, television, internet or at the office water cooler, you’re bound to come across conversations regarding the drowning housing market. The Feds have bailed out Bear Stearns and there’s been a lot of talk about a housing bailout – more specifically, the proposed irresponsible bailouts as outlined by Senator Dodd and Congressman Frank.
It’s no surprise that we here at the Arcadia Housing Blog is vehemently against such a bailout. There’s no gray area for us and this is as black and white as it comes. A government bailout just transfers the risk and losses from Wall Street to Main Street. Not only that, propping up the inflated home prices does nothing to solve the affordability issues we’re facing. To compound the problem even further, a bailout would encourage speculation, reward irresponsibility and punish the responsible.
Like many of you, I am a tax-paying citizen and I refuse to let the government use my hard earned dollars to bailout greedy companies and individuals alike. If you share similar feelings, I recommend you visit Stop The Mortgage Bailout and support the fight against a bailout. I have written to my representatives and encourage you to do the same. Although the responses I have received are generic, unsupportive replies, it is still important to voice your opinion. We are not alone, but unless we make a collective effort to speak out to the folks in Washington D.C., they may conveniently ignore the hard-working American families and individuals. Don’t give them that chance. Let them know that unless the bailout is stopped, we are ready to vote against any incumbents currently in office in order to bring in someone else who will listen and represent our values.
Don’t be shy.
Don’t be quiet.
Don’t be complacent.
Don’t be willfully ignorant.