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Originally Posted by vegasX5
Education is key here, and we had millions of utterly uneducated people financed into things they couldn't afford. You bail out those people, and they will never learn. Let them foreclose, try to find a rental, not be able to use credit for a few years, and those people will never make that mistake again.
We have one of the worst savings rates (actually negative) of all modern civilized countries, and we have systems in place to keep our society totallly ignorant to their mistakes. Whenever our citizens make a bad choice, they are automatically victims and demand assistance, and they are showed "empathy" rather than allowing them to grow from their ignorant state. There are so few people that actually take personal responsibility for any of their actions in this country that it makes me sick.
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You are under the assumption that the only way to "educate" people is for them to suffer and learn their lesson the hard way. If that is the case, then maybe the surgeon general should not require a warning on tobacco products. Maybe people who smoke should learn their lesson by getting cancer and finding out the hard way.
Or we can simply educate people by providing them with information. How about some regulation of the mortgage industry. If certain types of loans are unfair and "only for suckers", then the government should step in and pass legislation so that such loans are illegal. Or at least people should be required to read some sort of government mandated disclaimer which explains all the risks of such loans. Not everyone is aware of such risks, and I'm sure the salespeople selling these loans do not tell them about it as they are paid on commission and want to close the sale.
It's the government's job to protect its citizens, and even though it may be hard to believe, there are actually things other than terrorism that we need protection from.
