I realize, of course, that this is a local paper, dedicated to local news, yet I thought that we might want to chat about the economic situation via the Norwood News since this “crisis” and our government’s response is going to impact all of us.
I say, “No Bailout!” because the people involved with this “crisis” knew what they were doing and do not deserve to be “saved.” The banks made unscrupulous housing loans to people who could not really afford them but were duped by low initial interest rates. Then the banks packaged and sold these mortgages to investors, thereby creating a tangled web with no accountability between borrower and lender. Finally, as prices were dropping, these investor companies refused to adhere to any regulation and so instead of stopping the downward plummet, they let the market run amok.