Bailing out your neighbor

Ethel C. Fenig
Well, it seems that CNBC's Rick Santelli's televised outburst against paying for other people's mortgages is more in tune with the feelings of Americans than the man who won the presidency with over 50% of the vote.  As reported on CNN
 
a new national poll suggests that most Americans think the plan is unfair to those who pay their mortgages on time.

Sixty-four percent of those questioned in a Quinnipiac University survey released Wednesday feel the Obama administration program is unfair to those who pay their mortgages on time. Only 28 percent say that the president's $75 billion plan is fair.

However,

While nearly two-thirds think the plan is unfair to those who follow the rules, 57 percent say they approve of the package,

Because Americans are basically good hearted, this is not as contradictory as it appears. 

"Americans don't like to see other people get special treatment, particularly when it comes to money, but they don't like to see others suffer either," said CNN Polling Director Keating Holland.

"And unlike federal assistance to auto companies and banks, the Obama mortgage plan appears to benefit individual Americans, typically a more popular option in polls."

And apparently that's the sentiment that President Barack Hussein Obama (D) tapped.

So, should you struggle to pay your mortgage or get in line for some free money?  Except it won't be so free--even for those who restructure their mortgage. 




Well, it seems that CNBC's Rick Santelli's televised outburst against paying for other people's mortgages is more in tune with the feelings of Americans than the man who won the presidency with over 50% of the vote.  As reported on CNN
 
a new national poll suggests that most Americans think the plan is unfair to those who pay their mortgages on time.

Sixty-four percent of those questioned in a Quinnipiac University survey released Wednesday feel the Obama administration program is unfair to those who pay their mortgages on time. Only 28 percent say that the president's $75 billion plan is fair.

However,

While nearly two-thirds think the plan is unfair to those who follow the rules, 57 percent say they approve of the package,

Because Americans are basically good hearted, this is not as contradictory as it appears. 

"Americans don't like to see other people get special treatment, particularly when it comes to money, but they don't like to see others suffer either," said CNN Polling Director Keating Holland.

"And unlike federal assistance to auto companies and banks, the Obama mortgage plan appears to benefit individual Americans, typically a more popular option in polls."

And apparently that's the sentiment that President Barack Hussein Obama (D) tapped.

So, should you struggle to pay your mortgage or get in line for some free money?  Except it won't be so free--even for those who restructure their mortgage.