Mortgage Aid - Why Didn't We Help These Folks Instead?

Everyone is talking about the bailouts and bills that are moving through Congress.  They will spend our taxpayers money to rescue banks and lenders that made risky loans to unworthy borrowers.  So why the big to-do?  Banks that made bad loans should pay the price, and so should homeowners that got themselves into a real pickle.  It is not the problem of the citizens of the USA.  If the banks fail, it is the price of bad decisions, and it is a norm in capitalism.  Healthy and smart companies survive, not the losers.

If as a nation we have become so magnanimous what about all the others that will not be helped in rough times not of their choosing?  What about a helping hand for those that have worked all their lives, not missed a payment on their taxes, never took a vacation, and now they are laid off or have no hospitalization.  Suppose their spouse had cancer, and they have exhausted their medical and hospital coverage?  What about those dying of AIDS?  Will we cut them a break?  The answer is no.  Chances are that is you have gone up against hard times in life and applied for assistance or food stamps the answer you will receive is "No, you own a home!"  You are ineligible for aid if you lived a responsible life. 

So where does the US Congress get off placing more taxpayer money at extreme risk making such offerings?  Reduce the principle, extend the terms?  This is a bank bailout disguised as an assistance for the consumer. Since when does the government care?  No one else has ever gotten that treatment in spite of having to make a 20 or 30% down payment years ago.  There was no subsidy of the 16 and 17.5% mortgages...now we are sushing to the aid of no money down bad risk borrowers?  I have a major problem wiht this,a dn I will be calling my representatives tomorrow!