Wash. Post sees ‘bailout backlash’; Gee, you think so?
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Sometimes good journalism consists of reporting the obvious. In that spirit, the Washington Post wins today’s good journalism award (large newspaper category) for this piece explaining that many Americans hate the idea of a bailout -- whether it’s for banks or homeowners. Highlights:
‘I’ve been financially responsible with my own money,’ 58-year-old Ed Merkle told the Post. ‘Why should I now be responsible for the fact that you were not?’ he said.
This may be a Main Street bailout backlash in the making. ... The taxpayers are on the hook for the bad judgment of others.
And they say they don’t like it. They didn’t break it, but now they’ve bought it. Political leaders and financial titans say the bailout is necessary to save the economy, but on the ground [ . . . ] people think that the bailout will reward the wrong people. There’s a sense that too many folks bought houses they couldn’t really afford, banks urged them on, common sense went on vacation, and now the grown-ups have to clean up the mess.
The Post wins special points for avoiding the trap that much of the established media have been jumping into in recent days: the assumption that, if Americans don’t support a bailout for banks it’s probably because they want what some Democrats are pushing: an even bigger bailout with aid for struggling homeowners too. This is simply not true. Many Americans want a special bailout for no one. Ed Merkle again:
‘I’m not overextended,’ Merkle said. ‘I didn’t buy a large home that I can’t afford. I’m not behind on any of my payments. I’m not sure I want the government to take my tax dollars and buy someone else’s house for them.’
-- Peter Viles
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Hat tip: Theproblemwithcaring, via comments.