Should the government get involved with default mortgages?
Bernie McCormick w/Maeve, Dutchess County, NY
I would say yes, reluctantly yes.
I dont think the government should get involved in failing businesses, but I think these businesses took advantage of borrowers. They made a lot of money off of huge mortgages and refinances. People didnt realize what they were getting themselves into.
A lot were taken advantage of just to sell the mortgage and make the commission.
Doug Johnson, Englewood, NJ
I dont think they should. Its just another way to benefit the rich. The middle class will pay the tab. Lending institutions lent the money knowing it was risky, and now they want the government to cover their losses.
And where do you think the government is going to get the money from?
Eileen DeFalco, Flemington, NJ
No. Unfortunately people got into a mess on this. They took a big risk. They have to pay the consequences.
If the government gets involved, that means the rest of us have to pay. I dont think thats fair.
Its unfortunate that people got into that mess, but its better to let them work it out themselves.
Dave Gilliland, Ocean Grove Hardware
No. Other than more regulation upfront – Id say no.
To tighten up the regulations and make it more difficult to obtain questionable mortgages.
The mortgage companies and the banks took the risks. They accept the gains – now they have to accept the risks, and pay the consequences.
Bertha Mills, Neptune
Yes, they should – because I cant pay mine.
Weve been taken advantage of by the banks and the loan companies and what have you.
Theyre getting rich, running away with the money.
All the executives and CEOs are getting paid millions, while the little people suffer.
Mauro Bacolo, Ocean Grove
Yes, to some extent, absolutely. I would say a good percentage of people didnt know what they were getting into and now theyre in trouble.
The government came to the rescue of Bear Stern. The government slapped the Enron executives on the wrist when the little guy lost millions.
People lost their life savings. Make the mortgages companies pay the money.
They knew what they were doing.
Shannon Wall, Jackson
If there is a legitimate reason; if they really need help- such as disability or sudden death. But, if its just a bad investment, then no.
People made the wrong decision.
You cant expect the taxpayers to bail them out.
John Chopp, Neptune
It all depends on the circumstances. It depends on what kind of flim-flam the lender went through.
Im sure some are problems because of the lenders and some people over bought.
Bill OConner, Neptune
Yes. We seem to be bailing out country after country – were letting people here that shouldnt be here.
Plus the war that Bush got us into. All that money there.
There are a lot of people suffering here.
Its ridiculous.
Joyce DeGisi & John Treyball, Bradley Beach
Of course. The government allowed the lending institutions to make mortgages in the first place.
They never should have been made.
Were not sure how to go about it, but it needs to be done.
It looks like somebody is running for mayor out there, with all the signs.
People were set up.
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