My lord what are we coming to. I'm deeply ashamed to say I was ever a student under Ben Bernanke. Today, he stood in front of congress and stated that we should forget the problem of moral hazard and bailout even those who took on mortgages they knew they could never afford. Read that again. People who took on mortgages they knew they could never afford.
If this does not cause some amount of outrage in people I am not sure what will. These are people who knowingly knew that they were doing something they should not be doing. These are the people who essentially lied to get into a house. It is akin to stealing money. Yet now the rest of us should pay for it? The argument goes that there is a time and place to take the moral high ground and this is not the time to take it. But really, what is morality if people just throw it out the window when times get tough?
This nation became great because its people persevered through the roughest times. It is that never quit, pull yourself up through your own bootstraps type attitude that we most desperately need now. This is the exact opposite of that.