The Bailout Backlash
April 23rd, 2008 by Peter SudermanCNN Money has a story on the backlash against the bailout which mentions FreedomWorks’ AngryRenter website and includes an interview with my colleague Adam Brandon. A key point to make here is that bailing out homeowners through loan readjustments or no-foreclosure periods sounds like a softening measure, but the real result is to make the market’s downturn even worse. Instead of quickly going through the painful process, it extends it, protracting the downturn rather than making it easier.
April 23rd, 2008 at 2:39 pm
Your talking about a future bailout that could possibily happen right (hopefully it won’t)?
Because The Heritage Foundation reported that the Bear Stearns Deal was a BUYOUT not a bailout. And they seemed fine with that. They didn’t necessarily seem like that was their preferred action, but they didn’t seem like it was a bad action.
April 23rd, 2008 at 9:43 pm
It was a bailout…whether it was a good idea or not is really the issue IMO.