Scoop’s Views

It’s always nice when someone with means (you know, the people called “the haves”) reaches out and helps others in society with less (those people called “the have-nots”), but sometimes things that are done for supposed “have nots” is ridiculous. A classic example is in the news today.

It seems Donald “The Donald” Trump is doing something with his money to help another American couple deal with their personal woes as a result of defaulting on their mortgage. That’s nice, right?

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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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Ed McMahon, the former face of Publisher’s Clearinghouse sweepstakes, who teased Americans for years that he could show up at the door of anyone’s home, at any time, and make them a millionaire, seems to be in need of a sweepstakes win these days.

In recent days, McMahon’s financial woes have gone public, and now he says that he is “representing many people in the same situation.” What a crock! Perhaps he should ask one of his neighbors, such as Britney Spears, if he represents everyday people.

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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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Despite already being rewarded for bad behavior and bad business practices by means of a bailout by the Federal Reserve, Bear Stearns’ stockholders are getting rewarded this time by its buddy, the Federal Reserve, as well as the U.S. Treasury Department.

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