Mortgage C.A.F.E.- Credit And Finance Expert

So congress is in a hurry to pass this new legislation that's supposed to help the housing crisis in some format before they take off to the beaches for their vacation time in August.  President Bush has had an odd change of heart and will probably not veto it.  So here's my dilemma;

I'm trying to wrap my mind around the benefit to those that are either facing foreclosure or IN foreclosure by offering first time homebuyers an interest free loan of $7500 a piece.  Granted, I love the idea of my first time homebuyers having access to free money basically (free for them, costing tax payers money in long run) but the reality is it's apples to oranges to deal with the crisis.  Putting more money into bonds for city/state levels just adds an additional level of bureaucratic paperwork to having access to those funds for helping those that need it.

I think our government needs to start throwing more serious dollars to revamping our education system to teaching our kids and college grads about credit, finance, life in general. 

I was talking to some high school students at Katy High School about goal setting.  I asked them to stop and set a plan of achievement around a specific goal.  It was like asking them to freeze melted icecream with their pens.  They didn't know how to touch the pen to the paper. 

And they're supposed to walk away from high school knowing how to set financial goals and savings patterns and understand the importance of credit?

If knowing trigonometry is somehow going to magically make today's kids not follow in the footsteps of their parents who are overextended (in general) those footprints will be left in murky mud, and eventual quicksand.  Plugging the hole doesn't fix the problem.  Eventually that plug will break down and cause a flood of a problem.  You have to go to the source of the issue and educate the system to not have future issues and to learn from past mistakes. 

Our country's declaration of Independence was written and voiced by two people, John Adams and Thomas Jefferson, and in it contained the lessons learned from a monarchy gone wrong.  Our country was built and established as a system of correction for a system of corruption.  We are now a system of "let someone else do it" and our kids are the same.  If we don't start teaching proper responsibility across the board, whether it be investors, banks, consumers, or even people like me, Loan Officers, and accountability be mandate, we'll tailspin further into demise. 

Sorry for such a glum blog today, but really, are we going to take the bull by the horns or let the system take us for a ride?