Smalltownbanker

The Housing Bill: Uncle Sam Is Moving Into the Spare Bedroom

My problem is not the sharing of the gains with the Government. That is a fantasy that will never materialize. My problem is that each of us who does not participate in the program will share in the tax burden of the shortfall due to prices continuing to fall over the next 2+ years and the fact that these mortgages will still fail in a high percentage of cases because the mortgagors could not afford what they were buying to begin with.