Obama, Mostly Unquestioned by the Media, Now Taking Some Lumps

Perhaps it’s an indication that the honeymoon is over, but more than likely it’s simply just a blip on the radar among an otherwise Obama-infatuated media. It seems that some members of the media actually have the audacity to point out the inconsistencies in Barack Obama’s words and initiatives, and they’ve chosen the "mortgage bailout" plan to make their case. It’s already been acknowledged by Obama supporters, members of his administration and the Fed chairman that the new mortgage bailout will likely to go to people who are in a bad situation simply because they exercised extremely poor judgment and badly overreached.

Said Obama, "We have launched a housing plan that will help responsible families facing the threat of foreclosure lower their monthly payments and refinance their mortgages. It's a plan that won't help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will help millions of Americans who are struggling with declining home values." The reality, as pointed out by a recent AP article, is that Obama has yet to point out exactly HOW his plan will ensure that the undeserving don’t receive assistance.

Coming to Obama’s resuce, Fed Chairman Ben Bernanke noted that it’s important to bail out troubled borrowers, including those who may not be worthy, for the good of everyone. Noted Bernanke, "I think the smart way to deal with a situation like that is to put out the fire, save him from his own consequences of his own action but then, going forward, enact penalties and set tougher rules about smoking in bed." Quite the metaphor, but it seems that America at large is simply saying "let them burn."