Should gov bail out subprime borrowers?

Everyone has been saying the same thing lately "We are not facing an economic recession due to irresponsible lending, housing prices are going through a minor correction and nothing more." The only time economists and the government speak with one voice, is when they're lying. If the government doesn't do anything, the massively over-inflated housing market is going to burst in a way that made the tech bubble look like a minor correction.

Hell, they bailed out the airline industry, why not actual citizens?

The first answer is almost correct. Yes, they usually owe more than the property is worth but lenders have NOT stopped doing subprime loans. Subprime is anything below a 620 FICO. That's a HUGE section of the population. Estimates have it that 10% to 25% of subprime mortgages will end in foreclosure. Let's turn that around for a second. 75% to 90% will pay on time and wil not default. What do you think would happen if lenders stopped lending to that 75 to 90% that actually could afford their houses? If you want to see a real estate crash, just stop all subprime mortgages. The media has everyone using "buzz words" that they don't truly understand. FHA loans by defeninition are subprime, and they are not going anywhere. Fix the real problem. Overinflated home values, greedy lenders, (not the middle men, the large banks that fund these) and most of all the greedy want everything now borrowers.

No. The borrowers should have taken proper advice. Maybe the lenders could be told to pay-up because of irresponsible lending, but i guess the money is all gone. The gov can't be expected to bail out everyone who gets into money trouble, where would it end? I think this Senator is just looking for easy publicity.

NO!!!!

Schumer is a typical Democrat Communist.

He wants the Government to take over lending & borrowing.

It's a Democrat Power Grab.

I have heard enough of Schumer's proposals to come to the conclusion that if he proposes something, I am against it, because he NEVER comes up with anything that isn't straight socialism if not communism.

No I don't support government bail out. I don't support government bail out for anyone any time for any thing.

The government should stay OUT of the lives and business of its citizens.

I find their intrusions to be boorish at best and country killing at worst.

I don't like the government as it is today. I think we could safely disband and fire up to 75% of washington and the country wouldn't even notice.

Not a give away. They want a second or third, secured by the property, then ok. The gov could actually make money, which of course they won't. So I'll shut up.

No. These bums assumed the risk, now they have to live with the consequences. Nobody forced them to engage in this risky business, they should be forced to go bankrupt. In fact, the CEO's of these companies should be forced to pay out of their own pocket, they are slime and deserve to be made paupers.

I'm footing the bill for all the old people who don't know how to invest for their retirment.

I want my Social Security back!

No!

This is another cheap give away to garner votes in 08.

My son is losing his house due to an injury and I still say ,NO !!!.

I say,"HELL NO" We have too much welfare in this country.We shouldn't have to pay for stupidity any longer.