Bailout Stirs Up Strong Feelings

Banks got bailed out. So did automakers. So why not struggling homeowners?

The question has struck a raw nerve across the country, with critics saying the Obama administration’s latest housing rescue rewards people who bought homes they couldn’t afford. Others counter that the taxpayer-financed plan will slow spiraling home prices and avert a deeper economic disaster.

Republican lawmakers and conservative pundits have denounced the plan as an affront to free market principles and said it promotes irresponsible borrowing.

Supporters of the plan are pushing back. Some say “this is the financial equivalent of what Hurricane Katrina did to New Orleans. Did they know they were living below sea level?” Does that mean we shouldn’t have helped them?

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