ANALYSIS-Poverty, anger fuelled Nigerian sect uprising

Reuters

For that matter, what have other Nigerian institutions , all easily seen as Western-inspired, done for them," he said, arguing that a decade of supposed ...

Boko Haram: Sect Leader's Family to Sue Police, FG THISDAY

In Nigeria, an Insurgency Leaves a Heavy Toll New York Times

Foreign Policy: Nigeria's Taliban Not The Problem NPR



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Instead of bailing out all of the banks and financial institutions, why doesnt the govt payoff everyones house?
Q. Instead of bailing out the banks and financial institutions, why doesnt our government just payoff everyones mortgage and lets all enjoy a trickle up effect. Then the banks are shed of their risk, everyone has more money to spend and everyone starts over in a sense.
Asked by David N - Mon Feb 9 10:56:37 2009 - - 8 Answers - 0 Comments

A. Because the 'bailout' to the banks was not a gift of money. The bailout was a series of loans secured by preferred stock held by the government in those banks. One of the provisions of the bailout was that the preferred stock had to be bought back by the banks before they could make any dividend payments to stockholders. Your suggestion raises many issues. For example if the government pays off the mortgage - doesn't the government now own the house? The next issue is that most of the people in foreclosure made very poor financial decisions - why should we reward this type of behavior? Using your logic people we behaved irresponsibly should be rewarded with a free house while those who made good financial decisions are still stuck… [cont.]
Answered by MikeGolf - Mon Feb 9 12:57:23 2009