Mortgage Help: A Fascist Ploy Being Hached!

With 1.2 million Americans locked out of their homes for failure to meet their mortgage obligations, America's government plans to act. How you ask?

As FDR coerced corporations in the 1930's to maintain high wages and give pink slips to no one, our elephant and donkey leaders in D.C. are scrambling to help Americans out again. The problem is that FDR turned a recession of a couple of years into a full blown depression of 12 years by meddling in the affairs of free enterprise with big government programs. Anyone care to guess what happen today when President Bush and the Washingtonians get finished with their strong-arm techniques of re-writing mortgage contracts?

So you are about to lose your home? Don't worry about it... Missed a few more payments and the government will subsidize your failures? Kicked out to the curb? Not on your life...the Federal government is concocting the "Save a Home" plan- we'll kick the teeth in of those institutions and investors that risked their money to provide previously unqualified homeowners the opportunity to own their home. So what do these risk-takers get in return?

The loss of their private property rights, the loss of return on shareholder investment, the drying up of commercial credit, the destruction of contract law, a disregard of individual responsibility, etc...so what are contracts worth now? Not even the paper that they are written on-

How dangerous is this?

What lender should run the risk of loaning money to questionable borrowers if he cannot have a superior return on his investment? If you have to eat your investment because government forces you to hold the investment at reduced returns, is this the America we want? Take note: Even the government FHA programs are created to avoid the dirt clods who fail to make their payments.

So why blame lenders of last resort who provided the American dream to low qualified buyers? Isn't this what the Community Reinvestment Act of the Clinton years was all about? Giving a chance to renters to own a home? And if these low quality buyers fail to meet their obligations, why not let foreclosures take their course for those who failed to uphold their contractual obligations? Why not let apartments and houses be rented again by these individuals instead of destroying contract law? Is there any shame in renting for a while?

Be assured...government bail-outs, coercion tactics, price and interest rate controls will only extend the pain of Americans. It will not reduce the pain. It will make the pain more costly.

Do you remember the last big government plan to help the American people? Richard Nixon's price and wage controls of the early 1970's produced stagflation of the middle and late 70's that paralyzed American growth, productivity, and prosperity. Government tried to help the people...but...

Wasn't it President Reagan who said, "The most feared words are: I am from the government and I am here to help you."

Can anyone blame the Gipper? Scratching the itch may make you feel good for the moment. But it makes the itch even more irritating. Government help sounds good, feels good, and looks good. But once it arrives in the form of nullifying contracts, we wonder why on earth government acted so inefficiently, ineffectively, and so wastefully-

If any of us needs an example of government invasions, then consider health care, higher education, and even the post office??? Are not these the poster children for government results? Do we really want our government invading the marketplace re-writing private contracts, since we know that the results have been historically disasterous?