Do You Want to Pay Higher Taxes to Keep the Wall Street Bankers Rich?
Of course you do, because apparently none of your elected officials are arguing against current plans to this effect, or least if they were, the WSJ couldn't find them.
The basic story is very simple. A bunch of greedy and not very bright bankers made hundreds of billions of dollars of predatory loans to low and moderate income people, enabling them to buy homes in bubble inflated markets. Now these people cannot afford to pay their mortgages and the house prices have fallen far below the value of the mortgages. This means that the bankers are looking at huge losses.
But these are not poor people trying to provide child care or health care for their kids, these are rich bankers. So, naturally Congress will cough up the dough.
