This is an interesting 6 minute clip from Friday morning's Today Show. NBC's Brian Williams makes a rare morning appearance as host of the deabte. This is the 4th of our series of videos chronicling the rise of a taxpayer revolution. The issue being debated is Obama's proposal to bailout struggling homeowners at the expense of everyone else, including renters who made a conscious choice NOT to participate in the real estate bubble game, yet now are being asked to subsidize the mistakes of those who did.
It strikes at the core of who we are as Americans. For most taxpayers, the ongoing bank and auto bailouts, though more costly and extremely un-popular, do not resonate personally. But bailing out an irresponsible neighbor, who purchased more house than he could afford, is understood by everyone. I noted this peculiarity previously in our story on Citi and Bank of America, advantage commode.