Yup. I was going through the news today, and guess what I found? The housing crunch, in addition to hammering folks who got caught up with the fast and loose play of banks and mortgage lenders, is now affecting responsible homeowners who have made fiscally sound decisions, too.
I didn't have to tell many of you that, though, did I?
But don't worry, this is just a mental thing. It's all in our imaginations, and by talking about it, these good and concerned American citizens are just enabling us to create more excuses and whine a little more. Oh yeah, and it is all the media's fault. Not the banks and financial institutions, not the lending agencies who didn't do their homework, not the people who spent and spent and spent themselves in to hock, not the government watchdogs whose jobs it was to regulate these practices...nope. It are teh media, dey bad.
Well, they are. They should have been on this story years ago. But Paris and Britney and....you know. Write enough fluff stories, y'all, and watch what happens when something real (or mental) sneaks you after class.
And unfortunately, we - the working, responsible taxpayers - DO have to fund this enormous bailout. Because just letting all these folks and banks and lending agencies earn a just reward would teach them a lesson, but probably collapse our economy in the process. That's why we have to have educated people watching the economy to hedge against stuff like this.
What gets to me is that these bailouts aren't going to do any real good: the people who got us into this mess, those CEO's and CFO's who made the decisions to underwrite this ridiculous financial policy, will not get their just deserts. They'll take their golden parachute millions and MBA's and go work for some other institution, lying in wait for things to calm down before they run their next scam. Hopefully, the people who got really snookered this last time will learn a thing or three as they move into their more modest accomodations.