Feed: Why should taxpayers be responsible for bailing out all of - AggScore: 9.8

Why should taxpayers be responsible for bailing out all of these sub-prime mortgage loans?

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strongiQuestion by Dannyi Why should taxpayers be responsible for bailing out all of these subprime mortgage loansstrongThe housing boom and bust wouldnt happen if it wasnt for irresponsible lending and borrowing practices.Too many lenders fudged the books.They made lots of money brokering mortgages to people that wouldve never qualified for traditional home loans.But since there was suddenly three times as many families who qualified for home loans the supply of homes didnt meet demand.SO what happens The law of supply and demand takes over , and home prices go through the roof! But the lenders kept lending to more people for homes they dont reasonably qualify for at higher prices.Meanwhile...people whove been saving for years to buy a home the right way! suddenly see housing prices rise beyond their budget.Now all the people whove been riding the gravy train want to cry about the mess theyre in! People like me whove been saving responsibly , and stayed away from this questionable market are now left wondering about our future , and why we are supossed to bail these folks out!Hey Financier...or whatever your name is.I never said that ANYONE was ever bailed out from this mess , nor did I make any claims that any tax dollars have yet been spent on this.My question to the Yahoo Answers forum was Why should taxpayers be responsible for bailing out all of these subprime mortgage loansYouve no doubt heard if youre in the industry , as you claim that the government was THINKING about doing this.My question was Why!Why should anyone but the irresponsible lenders and borrowers be responsible for this messMaybe YOU should read a little more carefully before you give halfssed answers to legitmate questions!strongBest answerstrongpiAnswer by xinx5ibrI agree cannot find a reason why my tax should pay for this. I feel your pain.pstrongWhat do you think Answer below!strong