Saturday, August 02, 2008


I want to state how I feel about the things going on right now in the congress concerning mortgages. I heard someone say today that we had privatized benefits, but socialized risk. Boy is that right! I am burned up that there passed a mortgage bail out bill.

If we do away with the fact of consequences for doing dumb things whether it be lending or borrowing; or in stocks, buying or selling; then we have done away with the very thing that corrects our bad personal and cultural behaviour. I do not care if some of the consequences are big and the ramifications broad. Consequences to be effective as correctors must be heavy or they do not correct.

So much for now. What do you all think. Speak your mind.

Dad Clark


Mike and Adrianne said...

I agree. I think Mike might want to weigh in on this later but I know he agrees too.

Jason said...

I also agree. It's socialism in sheep's clothing. One of the things that really rubs me raw is the amount of money the CEOs are making. Not just of Freddie or Fannie but of so many other large companies that aren't doing particularly well. I think that shareholders should hold the men and women that run these various companies to higher standards. If you are going to make 20 million dollars a year, you had better be showing a profit.

Large companies aren't the only entities showing fiscal irresponsibility, however. Individuals are just as bad. Too many people over extended themselves and now they are complaining that they can't make their house payments. I feel for the people who have lost their house through no fault of their own (layoffs, etc...) but for those who just wanted more than they could afford, I have little sympathy.

I could go on but I won't (I'm sure you all just breathed a collective sigh of relief).