Much has been made about this financial crisis bailout, it stems from people purchasing houses they could not afford, people purchasing houses hoping to flip them before the principle on the loan became due, and those individuals which used NO down payment variable rate financing, and interest only loans to get what has been labeled the "American Dream".
The push for this started under Reagan as the words "American Dream" and home ownership became synonymous with each other. During the decade of the 90's financial institutions were facing many hurdles within the realm of being able to achieve this goal. Political groups all but blackmailed these institutions to start loaning to people who were borderline credit worthy, then these same organizations used there clout in government sectors to pass legislation which would require banking and financial institutions not to discriminate and just stopped short of forcing these lending associations to hand money to those who really could not qualify on their own merit. The band leader has struck up the chorus and the curtain closing act is soon going to be passed onto us, those who pay all the bills THE TAXPAYER.
Call, write or what ever it is that you do best and tell our incompetent legislature that you are NOT in favor of a TAXPAYER bailout of a problem we didn't create or cause.