And So It Begins

Bush to outline aid to mortgage holders By DEB RIECHMANN, Associated Press Writer WASHINGTON - Offering federal help for strapped mortgage holders, President Bush is proposing to aid hundreds of thousands of borrowers hard hit by the housing slump. (Yahoo News)

And so begins the great bail-out of 2007. Rather than proper and efficient standards (or perhaps ethics and morals on the part of the lenders) up front to prevent this from happening in the first place, the government is going to have to step in and bail out literally millions of people at a cost yet to be determined at a time when the Federal Government is already over extended for monetary resources. It just seems so petty to say I told you so, but can someone explain why are the taxpayers stuck holding the bag for this one too?