cash for clunkers! what a waste c.a.r.s.

The mortgage situation is the governments fault because they enacted restrictions during the Carter administration and then given teeth under Clinton that required banks to loan to people that would not normally qualify under the premise of "helping " more people become home owners.  It was called some like the "Community ReInvestment act". (Don't feel like looking up the exact name) So you got the whole sub-prime lending disaster lead by Freddie Mac and Fannie May( pushed and promoted by Barney Frank) .  Banks HAD to loan to people they knew would default because the government required it in order for them to be allowed to expand. That is the Governments fault. Now they are already only approving something like 20% of the reimbursements which means the dealerships will hafta eat the rebates.  That's not the kinda stimulus I would want. We would be much better off if people would use common sense and educate themselves but thats not a common occurrence now days. The problem is that the Government bureaucrats are more than happy to take advantage of societies apathy.