Saturday, September 06, 2008

Wait, what does this mean?

U.S. Rescue Seen at Hand for Two Mortgage Giants

I don't understand this article at all: I don't own a house and, frankly, never will; and I'm okay with that. But does this mean that taxpayers—some of whom have mortgages, I imagine—will now be paying the government to financially back the companies to which these taxpayers are themselves indebted?

I mean, that's kind of stupid, isn't it?

I'm not saying the mortgage holders are stupid, by any means; property is expensive, and there are few among us who can afford to just drop between five and seven figures to own their own homes. But…

I mean, seriously; is this the way money is supposed to work?

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