Dick Armey and Angry Renters Unite - Oppose the Mortgage Lender Housing Bailout

There is a movement afoot led by Dick Armey and other people who are angry at the proposed mortgage bailout. The movement is call "Angry Renters".

This simple video portrays the current Mortgage crisis and economic downturn in simple terms using the characters Bob and Sally as examples:

"Bob decided to buy a great big house. A house he could not really afford and in order to be able to purchase this great big house, Bob had to arrange for a risky adjustable rate mortgage.Both Bob and his bank were betting that home prices would continue to rise forever.

They Didn't.

Now Bobs risky loan is coming due. His payments have risen and because he couldnt really afford the great big house in the first place, Bob is upside down on his home loan. He owes more than the home is worth.

Meanwhile,,,Sally is still renting a home. She is saving her money so that she can make a down payment on home that she can afford. She is wise enough to avoid the gamble of risky loans.

She is still saving,,,still renting...and still does not own a home.

So what does Congress want to do? Congress is proposing that we Tax Sally to bail out Bob and Bobs bank.

That is not fair."

Bob and his bank both took an unwise risk that Sally was not willing to take. And for her conservative decision to save her money until she could afford a reasonable down payment on a house she could afford, Sally is being punished and Bob and his bank are being rewarded.

Its un-American!

In a free market, Wise business decisions are supposed to be rewarded and foolish decisions are not.

When businesses or individuals take big risks, they either get big rewards or lose a lot of money. Everyone knows that going in. Does anyone that bets on a long shot at the horse races expect for some good Samaritan to pay them back what they lost?

Learn more about the movement at angryrenter.com