[MississippiMan]

How many "stated income" liars and illegal aliens are on the list of those to be helped? How many "no doc" loans were made to wholly unqualified borrowers? These people should not be bailed out. It's time for them to be out of the market. It's NOT time for their stupidity to be rescued by laying the burden on taxpayers.

I said here on FR many, many months ago that in the end those of us who bought houses we can afford would wind up paying for the houses of those who bought what they could not afford. Several people promptly explained to me how impossible that notion is. Uh-huh. It's been obvious for a long time that this is exactly what was coming, and this is PRECISELY the kind of move that SHOULD cause an all-out tax revolt.

MM

[Myrddin]

I think the current figure for default of "modified" mortgages is running about 59%. The same people who wouldn't pay the mortgage on the original terms still won't pay when the terms are modified. I predict they will default again...after responsible people are burdened with their irresponsibility.

[Hanna548]

Tax Revolt? Yea, it should cause a tax revolt and every other kind of revolt we can think of.

[spokeshave]

Yeah....and what about all those ARM mortgages that will re-adjust in the coming years....we going to bail out all of them also....?