FreedomsAdvocate.com

     According to James Pethokoukis at Reuters, the Obama administration is considering a ‘main-street bailout’ to lift his sagging poll numbers and avert the pending route of Democrats in upcoming mid-term Congressional elections. While the details are still sketchy, it is generally assumed that it would ‘forgive’ some or all of the negative equity of the 15 million US mortgage holders who are currently ‘underwater’.

Read the full story, here An August Surprise from Obama?

Although it is certain to be spun as a bailout of main-street, it actually, it will simply be another bailout of holders of the so-called ‘toxic debt’. Of course, the American Taxpayers, our children and our children’s children will again be left holding the estimated $800 billion debt. The banks who made those bad loans at the behest of the Federal Government and the individuals who risked and lost will be rewarded, while the majority who did not make risky gambles will again be left holding the bag.