Normally, I don't like bailouts. Why should taxes make up the money from bad loans? From bad business decisions. To keep the rich just as rich as they think they ought to be?
Bush has suggested that high-end house loans should be bailed out.
Of course, the poor people will be left to drown ... uh, go under financially; but the half-millionaires will be rescued.
Why does that stink even worse than the usual bailout suggestion?
Bailouts in particular rescue the incompetent rich. The housing market is going down. Bush will figure out some way to rescue those with deep pockets. I hope that Congress refuses to play. Too many financial institutions have bought into the get-rich-quick of real-estate turnover. It's time to let them all just crash.