LETTER TO THE EDITOR:
Don’t subsidize the foolhardy
Saturday, May 10, 2008 | 2:02 a.m.
Regarding the mortgage crisis:
The government has neither a moral nor legal obligation to subsidize irresponsible borrowers and lenders.
Discussion: comments so far…
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Yet look at the $15.3 billion mortgage plan the Senate wrote..$12.3 BILLION for the LENDERS and all the rest a whopping $3 Billion for borrowers..I agree we shouldn't bail any person or Corporation out from this crisis.. But hey, McCain could become the next President..remember the S&L Bailout in the 80's..and refresh my memory who was Micael Keating? Which Senator was his helpful pal? If you're old enough it was you and I that paid for their shady business practices..and resulting collapse of that industry.
Hey, it's only my opinion
Sure, but it was Charles Keating involved in the S&L debacle. Keating was sentenced to 10 years in federal prison by Judge Lance Ito, who later went on to infamy as the presiding jurist in the O.J. Simpson "trial" in Los Angeles.