Let's Just Add More.....

As most of you have probably heard, the Bailout Legislation passed the Senate last night with some pretty major addions in order to get the House to buy into it. The word is still out on whether or not this will work, but we just keep pouring more money into failed business practices. If we really are going to pick-up the problems of major corporations shouldn't there be some type of legislation that prohibits them from doing this again? What is to stop bank and mortgage brokers from offering easy money to borrowers who can least afford to make the payments? We would like to think that the industry would correct itself, but what promises do we really have. I'm all for a free market system with less regulation, but when an industry has shown a lack of restraint don't you think we should have the sense to not let them do it again?

Here is an area I might be willing to see more government regulation in the future. We need to safeguard the American public from the industries that prey on the average person. You would think that lenders would want to make sure that people can actually afford the mortgage they are giving them...maybe I'm being to simplistic?