Is The Government Mortgage Loan Bail out a Good Idea?

I'm not wild about it, personally. The idea of my tax dollars going to bail out private firms so their shareholders don't lose too much mone makes me a little queasy.

    For the most part I was for the housing bill but after looking over some of the key points I have a few concerns. My primary concern has to do with the removal of DPA for FHA loans. It seems to me that if you want people to buy homes assistance with the down payment would go a long way. I am also concerned that the 400,000 struggling home owners that this bill is supposed to save is far to low of a number. From what I have seen the number or foreclosures could easily reach 6,000,000 by 2011.

    I guess I some what agree that Fannie and Freddie are too big to let fail but only to a degree. Now that this has been done where will the government draw the line on bailing out private institutions? What about credit card companies? Both Visa and American Express are experiencing higher amounts of account delinquencies. Will they one day need to be bailed out by the government because they are also to big to fail?