Scoop’s Views

It seems just about half the members of the U.S. House of Representatives have half a brain, or, if not that, then at least the commonsense God gave to individuals fiscally responsible for managing household budgets.

Barack Obama, however, is not among that crowd: he had this strange idea that the very CEOs that got the financial institutions into a mess should receive “reasonable compensation packages.” Those CEOs should be paying compensation to the U.S., to the homeowners they helped defraud by giving mortgages to people who never should have qualified for them in the first place.

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Congress has approved a $300 billion funding measure to help people who are at risk of losing their homes due to foreclosure, and now, it seems, almost every media outlet in the country is busy touting the ways to stake claim to your chunk of change from that bailout.

To be in foreclosure means you haven’t paid your mortgage. Wow! What a concept. Most of the people in the current mortgage crisis are people who managed to get mortgages from lenders who offered sub-prime loans. The loans were given to people with a variety of options, but many people who never would have managed to get a mortgage from traditional lenders managed to buy a home. Great. Until the taxpayer-funded bailout.

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McCain scored a point with me when he said that no emergency bailout should be made to the people who obtained these mortgages. His opponents, though, Hillary Clinton and Barack Obama, have made comments in the recent past that some kind of “help” ought be made available to the people with these mortgages. My question to Clinton and Obama would be: “Why? Are you looking at rewarding bad and irresponsible behavior?”

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