Many problems with mortgage bailouts

"A third of the American public rents," Brandon pointed out. "They're saying 'I've been saving for a mortgage for years. I could have jumped in on a subprime loan too. Now I'm going to have to pay for a government bailout."

It's interesting how the public is smarter than politicians this time (wait, don't laugh). The public knows they will be on the hook for any bailout. Politicians say "no no, we are just going to borrow the money, or not spend anything at all and just put government guarantees on loans." But those are the same old lies -- if the government does anything, it is going to be to absorb losses, and taxpayers will ultimately have to pay for that.