Re: BREAKING NEWS - Bush administration reaches mortgage deal
I'm going to withhold my final judgement, but something tells me that in the long run this won't be such a good idea.
The people this protects are the big banks that made bad choices by giving loans to people that were not credit worthy. Of course, it also protects the borrowers, but my guess is that for the most part these people are also the ones strapped with big credit debts.
I think these same people should have to go through credit counseling if they need to partake in this government bailout. If they don't, they will still continue to make bad credit choices and be preyed upon by shady credit card companies and lenders.
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