If you are wondering what exactly Congress is going to do with this "bailout plan" for mortgages, Reuters has a easily readable factbox that was very helpful.
A few months ago when I was reading news of the government helping mortgage firms, I thought, "ok, no big deal." But as the issues and facts surfaced I realized how crazily complex it was. It seems media assumes the public knows how the gears of financial buyouts work. The more I read, I concluded that taxpayers have no obligation to save these firms. We're getting a rough deal here. Why am I responsible for the bad decisions of a few greedy wall street execs? Why?
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