March 22, 2008

Helping homeowners, not Indians

One group is part of mainstream society, the other isn't. One group gets bailed out, the other doesn't.

Calls grow for U.S. to bail out homeowners, prevent foreclosures

Proposals gain traction in Congress as the housing crisis roils the economy.From Wall Street to Capitol Hill, calls are growing for the government to get into the mortgage business as the only way out of the housing crisis roiling the economy and the financial markets.

Proposals to shore up tottering home loans with taxpayer money are gaining traction in Congress and moving to the forefront of presidential politics.
And:Democratic contender Sen. Hillary Rodham Clinton cited that action this week in calling for a new initiative to provide $30 billion to help homeowners.

"If we can extend a $30-billion lifeline to avoid a crisis for Wall Street banks, we should extend at least $30 billion in immediate assistance to at-risk communities and families facing foreclosure," Clinton's campaign said in a statement.
Comment:  A slight modification of Clinton's statement:

"If we can extend a $30-billion lifeline to avoid a crisis for Wall Street banks, or give away $30 billion in tax cuts to the rich, or throw away $30 billion every three months in Iraq, then we should extend at least $30 billion in immediate assistance to at-risk Indian communities and families whether they're facing foreclosure or some other financial hardship."

This news item suggests why I laugh whenever conservatives complain that Indians get welfare or the reservation system is a "failed experiment in socialism" (James Watt). If non-Indians are suffering economic hardship, they expect and demand the same kind of "handouts." And politicians rush to help them.

There's no difference between bailing out struggling non-Indians and struggling Indians. Oh, wait...there's one difference. We actually owe Indians government support because of the treaties they signed. We don't owe welfare-seeking non-Indians anything. Not legally, anyway.

For more on the subject, see The Myth of American Self-Reliance.

4 comments:

writerfella said...

Writerfella here --
Luckily for foresight and all, as writerfella convinced his father to pay off the mortgage on TheBatesMotel 'way back in 1981 when the family received substantial oil lease payments. And the newest oil lease monies now are being invested in reroofing, a reconstructed garage, new carpets, and furniture. The improvements writerfella loves the most are a 48" LCD TV and DISH HDTV satellite service! TheBatesMotel not only is free and clear financially, it's a Man-Cave! Let's see, an all-day DVD marathon of BATTLESTAR GALACTICA, Season 3, is on deck for today...
All Best
Russ Bates
'writerfella'

dmarks said...

"All along the watchtower". New episodes start April 4, Russ.

Rob said...

So you get "cheques" (i.e., handouts) from oil wells as well as a casino, Russ? Nice!

writerfella said...

Writerfella here --
Handouts? If that's what Chesapeake Energies and Getty Oil calls their BIA negotiated lease payments, writerfella will laugh all the way to the bank! The American Indian Trust handles oil, gas, mineral, and agricultural payments only, along with funding Oliver North and Nicaraguan Contras from time to time. writerfella eschews gambling at casinoes, so no checks are forthcoming there. In fact, as far as writerfella hears, Oklahoma casinoes pay cash AFTER receiving IDs and SSNs if the amount exceeds $800. As far as writerfella is concerned, NOTHING ever can equal the thrill and anticipation of fresh paper cards and a bingo dauber in hand...
All Best
Russ Bates
'writerfella'