Moral of the Story, Don’t Do What the Government Says

So the government wants to spend roughly a TRILLION dollars of your and my money to bail out banks from around the world who hold too much bad mortgage debt. Why are they holding this bad debt? Because they either gave mortgages to people who could not afford to pay them back or they bought these mortgages from other banks at a discount. Why did these banks lend money to people who had no business borrowing that much money? Because the government told them to. Why did the government tell them to? Because more people owning houses is apparently more important than more people actually being able to afford to own houses.
Should the government be responsible for bailing out these huge banks? Maybe. The government is responsible for these banks issuing hundreds of billions of dollars in loans to people who should not have qualified for these loans in the first place. So in that sense the government should be responsible for fixing a problem they caused. HOWEVER, most solutions the government implements are usually worse than the problems that they created, so it could actually be better for everyone if they did nothing at all.
Listening to the random news shows on TV, many people are criticizing the proposed plan because it only helps the wealthy banking industry and leaves out the poor people who are facing foreclosure. The poor people who can’t pay the loans that they never should have received in the first place is that cause of the problem. If the government does some sort of bail out of these people I hope that there are riots in every street of the country for rewarding people for being stupid at the expense of those smart enough to not get in this situation.
Is there more to this whole situation? Probably. Ultimately it will mean that I’ll need good credit in order to get a mortgage in the next few years.