Wednesday, April 21, 2010
Obama Stimulus Did Not Help Me
Once again big government got it wrong. Once again, big government helped big business but not me.
I am not surprised, angry, but not surprised. I mean why would anyone think that giving banks crap loads of money was smart? What kind of naïve adult with a supposed sense of history thought the banks would just give the money to people? As my pre-teen daughter would say, “Seriously?”
My grandparents bought their house in 1928. The crash hit and the great depression began. Everybody (literally) on the block lost their homes.. The banks were left holding all the homes. What did the banks do? The banks couldn’t hold onto the homes so they sold people the house across the street at prices they could afford. Grandma told me they actually first bought the home across the street. The market adjusted. The banks made stupid loans. The banks paid the price for their greed and stupidity. My grandparents lived in their home until the late 1980. Grandma sold the house after grandpa died and was able to live comfortably in a nice retirement complex near her church and friends.
The bailout, the Obama stimulus plan is destined to fail and hurt the common man. The banks are proving this as we breathe and daily pay our taxes. The banks are waiting for the market to pick up again so they don’t have to pay the price for their irresponsible choices.
What about those of us who knew we could not afford homes at those prices even if a bank was dishonest and irresponsible enough to give us a loan? My wife and I are still waiting.
The Obama stimulus plan is not helping me. It is stupid and foolishly conceived.
Thus saith me.