When I was entering college, my Dad made too much money to qualify for financial aid. (He made slightly over $35K a year, which was the cut off back in 1969-70.) Fortunately, I was slightly less dim-witted than my peers and I qualified for some aid based on academic qualifications. I majored in Chemistry and managed to get a job as a T/A. This job plus flipping burgers at Jack-In-The-Box and McDonald's and a few other places paid for my college.

I was a scared youth. There was a recession taking place around 1973 when I graduated, so I was careful not to run up debt. I was just plain happy to have work. Work that actually used my Chemistry training.

After the recession ended, I ended up with a better job in Houston, and I was still a scared young adult, too afraid to run up any debt.

I am still a frightened adult, too afraid to run up any debt.  Now I find out we are going to subsidize "troubled" mortgages. Personally, I think it is terrible policy to subsidize housing, but that is a different story.

I am wondering who feels strongly about this policy? Is it right? Is it wrong? We already subsidize tax write offs for the rich (mortgage interest deduction) on million dollar homes, and now we are going to subsidize mortgage payments to people who borrowed too much money and bought homes where the market is now crashing. I find it amazing that our government would even consider this policy. (I wonder if the folks we are going to help get to keep their financed bass boats and jet skis as well?)