The Reality Of Bailouts: We’re Helping People Who Don’t Deserve Our Help
Not only is this guy defrauding taxpayers, but he’s damn proud of it too.
Mr. [Steve] Sherman said that while he can afford his [mortgage] payments, he had planned to sell the house in a year or so to supplement his retirement income. But now, he figures, he couldn’t afford to live there as a retiree. So four months ago he stopped writing mortgage checks, setting the cash aside in his retirement savings. He says he’s waiting for his lender to kick him out or to reduce his loan amount. He’d also be happy for the government to modify his loan.
“I don’t deserve a bailout,” Mr. Sherman said. “Will I take one? You are darned right I will.”
We shouldn’t be bailing these people out.
