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The wealthy don't enjoy the same political support as everyone else, and that's why high-end homes have a ways to go to the bottom, says Pimco's Scott Simon. As Congress approves credits for first-time homebuyers, he says, banks are looking for ways to avoid qualifying high-end buyers, or charge them hefty fees.

Then what do you call the trillion dollar bailout of the banking system if it is not political support? Are you saying that the billions in bonuses are due to hard work and a level playing field? What crap that the wealthy don't have political support.