House discusses $15 billion mortgage bailout

House members are discussing a tentative plan would allow the government to purchase up to 1 million mortgages over five years in an effort to help struggling borrowers avoid foreclosure and financial markets avoid more credit-related losses. The loans would be bought by the Federal Housing Administration, a Depression-era agency that insures loans made to borrowers with poor credit.

The effort shows that the housing crisis has evolved to the point where government officials are considering bailing out large groups of borrowers and Wall Street investors.

Now there is an operative phrase: Wall Street investors. I am too sure that Congress wants to bail out ordinary people, except that some of these people vote; however, the Federal Reserve was created to protect the big financial institutions and after already plunging hundreds of billions of dollars of imaginary money into the system to protect Citigroup, Bear Stearns and the like. Congress now wants to do its part. Will the quid pro quo show up as campaign contributions, money in offshore accounts, hmm? Just how in the hell long can a government, which is now spending $3 TRILLION a year, keep inventing new money? (which makes the old less valuable) And where is the money coming from for the economic stimulus plan? Water on the moon? "Money from nothing" seems to be this government's mantra--Democrat and Republican alike.

I did not get an adjustable rate mortgage or any other such nonsense, did not use a credit card as if it was a gift card, did not trade up to a new vehicle every year--I still drive my '92 Ford, and I am sick and tired of all the whining people who now can't make ends meet and the politicians who want to make it all better with free money. That's my life that all these foolish losers on Wall Street are also affecting and they get a bailout for being stupid and greedy. I think we need a national anthem. Throw all the bums out and start again.