When individuals do have the pain of saving and being responsible day-in, day-out for their adult lifetimes, they might cease behaving foolishly.
true that.
Lets try it with government.
My husband and I purposefully chose a modest house because we didn't want the other to struggle if something happened to one of us.
The "I've got to have it now" attitude is too much for me to take lately, especially when my tax dollars are footing the bill!
Fannie and Freddie were both private, stockholder owned companies when they were leveraging themselves to the hilt during the bubble.
There had been no government backing of them since Lyndon Johnson’s day, and there was zero taxpayer responsibility to bail them out. You’ll have to ask Dubya why he decided to stick us with the bill for saving them.