More on the housing meltdown bailout…

Lynnette Kalphani-Cox, frequent guest on The Oprah Winfrey Show, chimed in on Farai Chideya's segment on National Public Radio, April 3, 2008, that…

1. Subprime loans were issued at disproportionate rates to black families, predominantly black women, even when they qualified for better rates. And that…
2. Subprime starter rates aren't the main problem in the mortgage meltdown.

Yet the bailout package will in all likelihood not help the people who really need it, let alone punish the people who put them into predatory loans in the first place.

Do people who bought a home without being able to afford one deserve to be bailed out? That might depend upon whether they were lied to or misled when getting into their loans.

So McCain said:

"There is nothing more important than keeping alive the American dream to own your home, and priority No. 1 is to keep well-meaning, deserving homeowners who are facing foreclosure in their homes."

Who decides who's deserving? Who knows who's well-meaning?

Are the overbuilders the most important sector to save?

There's no way the real offenders will be castrated on this one, and that's probably the only way justice would be served.