Banks got bailed out. So did automakers. So why not struggling homeowners? The question has struck a raw nerve across the country, with critics saying the Obama administration's latest housing rescue rewards people who bought homes they couldn't afford. Others counter that the taxpayer-financed plan will slow spiraling home prices and avert a deeper economic disaster.
The debate captures the strong emotions stirred up over who benefits as the government tries to fix the financial crisis. It's likely to remain on the front burner for months as lawmakers consider other contentious issues - like whether bankruptcy judges should be given the power to impose changes on borrowers' home loans.
"I feel like I'm doing the right thing paying my mortgage, and now apparently I have to pay my neighbor's mortgage, too. People are really angry," said Kim Guymon, a stay-at-home *** who bought a three-bedroom home with her husband in suburban Seattle in 2001 and has watched it drop $150,000 in value since last summer.
