Tuesday, October 07, 2008

On the bailout: We're a bad parent

I've been trying to find just the right words to explain my views on the bailout plan passed last week.

Well, words that sound more intelligent than "It's frickin stupid."

So, while those words have not come yet, I do want to pass on words from a friend of mine from high school, who talks about her experiences working at a bank several years ago:

I also saw several (and I am not exaggerating) several parents of college students come in because their daughter (and it usually was a daughter) was short $500 in her checking account. They would shake their heads and then deposit upwards of $2,000 in her account to "bail" her out. This irked me the very most of anything because at the time I was a full time student, working full time and paying for all my school by myself. I couldn't stand the lesson these parents were teaching their children. It was basically spend all you have and then some because I will always bail you out. These college students now have some of those mortgages that are in foreclosure because they had to have a home that was too big and too much money for them.

3 comments:

I am Laura said...

That friend sounds highly intelligent.

Obi wan liberali said...

Like I've posted on my own blog, if you reward bad behavior, you are likely going to get more of it.

Just and Holy said...

amen