This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to not bail out mortgage holders and mortgage lenders with my taxes. More details
Submitted by Ian Caldwell – Deadline to sign up by: 18 November 2007 – Signatures: 337
As a responsible citizen, I do not believe it is right for you to ask me to pay for the City's financial excesses, especially since a bailout encourages lenders to continue making predatory loans, with the assumption that taxpayers are on the hook. Any proposed bailout will only reward lenders and borrowers who acted irresponsibly, and it will punish people who work hard and diligently manage their finances by not buying houses which they cannot afford. The banks profited hugely on the upside, they absolutely deserve the losses that stem from their failure to exercise good judgment in their investment decisions. The housing market has begun a process of correction. This is necessary in order to keep housing affordable in the long-term. Let the market correct so we can achieve stability and affordability again.
Ian Caldwell, the Petition Creator, joined by: