Who Exactly is Getting Bailed Out: Wall Street or Main Street?

For all those in an uproar about the so-called bailout, think on this: these financial and insurance firms are in trouble, in large part, because of the inability or even unwillingness of home "owners" to pay their mortgages. To be sure, these companies should have seen this coming even if they thought these loans had an implicit government guarantee. But who blames a small business owner when he goes out of business because his customers don't pay their bills? No one. And it's really no different here. Whoever invested in MBS may or may not have understood the risks but nobody doubts a debtor's moral obligation to pay, upon which a great deal of business is conducted (or used to be, anyway) not just MBS. The instruments which these mortgages were converted into may be very complex but they are NOT "fictional" or fraudulent. Many people, in the public at large (i.e. Main Street), Wall Street, and especially Washington are responsible for this problem. So, in one way or another as borrowers, electors, or shady politicians we are ALL responsible. So quit bitchin' and pay up!