In December of 2007, we hadn’t given almost a billion dollars to banks. But the government and the blogosphere was abuzz with talk about bailing out home owners.
Image by JHSUM via Flickr
I have to say, I have re-read that opinion a time or two, and knowing what I know now, I’m not sure I would change it. I still think it sucks for the millions of home owners that have lost value because a neighbor was foreclosed and the house went downhill. Heck, I’ve been affected by that… as you probably have as well. But at the same time, giving that neighbor that made bad decisions, and the bank that made bad decisions a free pass so that I don’t feel the impact doesn’t make sense either… especially since I would STILL feel the impact in the form of government debt and taxes.
Take a read, and let me know what you think. Now that we have two years of hindsight…
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