Senator McCain and mortgages

Senator McCain wants taxpayers to help “homeowners” who are behind on their mortgage payments and facing foreclosure. This help would consist of the government acquiring, at face value, unaffordable mortgages which then, presumably, would be restructured at a significant loss to the taxpayer.

It is bad enough that the majority of these troubled mortgages were taken out by the greedy and irresponsible: they deserve much of what is happening to them. Far worse is that Senator McCain is proposing to make whole the overpaid, incompetent, idiots who lent the money in the first place or, later, bought the toxic securities allegedly backed by these mortgages.

So, pray tell, what is to become of real homeowners who saved their money, made a substantial down payment, and have been, faithfully and honestly, making payments every month? Is anyone offering them any help? Why do I ask? The answer is a resounding "no".

Senator McCain knows about responsibility and honesty. He should be upholding the former standards of the now derelict Straight Talk Express. Many of us who pay our bills - and our taxes - on time have become truly disgusted by his pandering to the incompetent, to the greedy, to the irresponsible, and to the corrupt.