Comments on: Change is Just a Six Letter Word http://ryanhartman.wordpress.com/2008/01/26/change-is-just-a-six-letter-word/ I read all the news I have time for and then I try to put it in my own words Sun, 15 Feb 2009 23:47:11 +0000 http://wordpress.com/ hourly 1 By: Ryan Hartman http://ryanhartman.wordpress.com/2008/01/26/change-is-just-a-six-letter-word/#comment-112 Ryan Hartman Sat, 26 Jan 2008 21:59:05 +0000 http://ryanhartman.wordpress.com/2008/01/26/change-is-just-a-six-letter-word/#comment-112 Of course the irresponsible people who took out loans knowing that they couldn't be paid back should be held responsible. However, the people who lent the money are just as bad. It's like blaming only the drug addicts and completely ignoring the dealers and growers. I agree with you that bailing them out is the wrong to do, just as giving everyone $300 makes no sense. Where we disagree is that (it appears) you are saying everything will work itself out if we leave it be, while I think something needs to be done. Of course the irresponsible people who took out loans knowing that they couldn’t be paid back should be held responsible. However, the people who lent the money are just as bad. It’s like blaming only the drug addicts and completely ignoring the dealers and growers.
I agree with you that bailing them out is the wrong to do, just as giving everyone $300 makes no sense. Where we disagree is that (it appears) you are saying everything will work itself out if we leave it be, while I think something needs to be done.

]]> By: NotYourDaddy http://ryanhartman.wordpress.com/2008/01/26/change-is-just-a-six-letter-word/#comment-111 NotYourDaddy Sat, 26 Jan 2008 20:17:06 +0000 http://ryanhartman.wordpress.com/2008/01/26/change-is-just-a-six-letter-word/#comment-111 "Not Your Daddy wrote a blog saying that everyone is to blame for the subprime mortgage crisis." Actually, Ryan, I was not blaming "everybody." I was blaming specifically the individuals who were so fiscally irresponsible as to get <i>themselves</i> into this mess. The problem is that now they want <i>everybody</i> (i.e., the taxpayers) to bail them out. "I’m not claiming to have a solution, but if we all put as much energy into figuring out what to do now as we do into placing blame, I’m sure we would have one in no time." What you call blame, I call accountability. My solution is to not bail them out. That <i>won't work</i>. I was pointing out the idiocy of the new economic stimulus plan which will raise the limits and make even more federally backed money available to sub-prime borrowers so they can get themselves in even deeper. Let them pay for their own mistakes. It's true that it will affect the rest of the economy as well, but so will bailing them out. And bailing them out will have longer-term effects because it only prolongs the problem. Applying band-aids to a hemorrhage won't stop the hemorrhage, and is a waste of band-aids. “Not Your Daddy wrote a blog saying that everyone is to blame for the subprime mortgage crisis.”

Actually, Ryan, I was not blaming “everybody.” I was blaming specifically the individuals who were so fiscally irresponsible as to get themselves into this mess. The problem is that now they want everybody (i.e., the taxpayers) to bail them out.

“I’m not claiming to have a solution, but if we all put as much energy into figuring out what to do now as we do into placing blame, I’m sure we would have one in no time.”

What you call blame, I call accountability. My solution is to not bail them out. That won’t work. I was pointing out the idiocy of the new economic stimulus plan which will raise the limits and make even more federally backed money available to sub-prime borrowers so they can get themselves in even deeper. Let them pay for their own mistakes. It’s true that it will affect the rest of the economy as well, but so will bailing them out. And bailing them out will have longer-term effects because it only prolongs the problem. Applying band-aids to a hemorrhage won’t stop the hemorrhage, and is a waste of band-aids.

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