Tuesday, November 11, 2008

Wondering about the bailouts

Let me say first off, I don't know if the bailouts are a good thing or not; I am not coming at this with a particular point of view. But I am wondering about bailing out Ford, GM, & Chrysler. JMM and I have had 1 GM and 1 Ford vehicles in the last 35 years; the rest have been Toyotas and my current Honda. I am so happy with my Honda that I will probably continue with Honda. I am all for having an American automobile industry but my buying habits won't support it. If people won't buy the product, maybe we shouldn't bail them out. I don't know but I do wonder.

The second bailout is the re-structuring of all the deliquent mortgages. I can understand that some people were taken in by shady lenders and I know that life sometimes throws you some curves which may leave one struggling to make a mortgage payment. But I am wondering how much good re-structuring these loans will do in the long run. Will people who have been bailed out continue to make poor decisions and take equity out of their house to pay off credit cards for stuff they really can't afford? I don't know but I do wonder.

1 comment:

Tamara said...

I am completely against bailouts - unless it's a student loan bailout....