The McCain mortgage bailout of $300 billion is a bad idea.  First of all you want to bail out people that can’t pay their mortgages.  Many of these people had no business buying a home anyway.  The second issue is many of these people have no money at stake in the transaction.  Many of these folks got loans at 100% LTV.  In my day buying a home meant something.  You actually had to save up money for a down payment.  When you bought a home you had something at stake.  Continue Reading »