Jesse Jackson and I agree on one thing… we both dislike the mortgage bailout proposed by President Bush. But that’s where our agreement ends. Because instead of opposing the bailout as yet another government handout to those who refuse to take personal responsibility for their own actions, the race-pimp Jackson sees the giveaway as not big enough…

Rev. Jesse Jackson and other U.S. civil rights leaders converged on Wall Street on Monday to demand the government and the financial community step up aid to stem a home-loan foreclosure crisis.

At a rally in lower Manhattan, activists said homeowners needed more help to restructure their loans and avoid losing their houses.

“We’re standing to stop an economic tsunami,” Jackson told a crowd of more than 200 people. “Our government has an obligation, not only to borrowers but to the economy itself.”

While we’re on the subject of obligation, how about we discuss the contractual obligation of those who borrowed more than they should have? How about we take a look at those who did not take personal responsibility, like the rest of us, to borrow within their means? Why is it the government’s responsibility to now come in and help these overextended debtors get a better deal?

I agree that the President’s proposal sucks… because I don’t think he should’ve made it to begin with.

These folks played the adjustable rate mortgage game and lost. That was the risk they took when they signed the contract. It was also the risk the lenders took in advancing these folks the money without demanding more solid proof of their ability to repay. It’s the high price of education.

Jackson said the protesters want “renegotiation and restructuring [of loans] and not repossession of homes.”

Rhyming doesn’t make it work any better. How about a federal bailout for car owners too? Perhaps we can shakedown the government to help those who overextended themselves into Cadillacs when they should’ve been looking at Fords so they can keep from having their rides repossessed as well.

While normal, responsible citizens continue to make timely payments on loans they took out - forgoing other luxuries in life until they fulfill their financial obligation - the President is helping the rest ditch their responsibilities completely so they can stay in the homes they never should’ve purchased to begin with… and all the while the race peddlers are demanding a bigger handout.

If Jackson and his race peddlers want to address the issues in the black community, they should stop focusing on lenders and spend more time with borrowers. Educate the culture that values $100 basketball shoes over food for the family. Teach them that having no hidden assets is not a financially responsible way to go through life. Calling them victims and demanding government assistance everytime they fall short will only teach them to continue to rely on bailouts over personal responsibility.

As Bill Cosby said:

Cosby told his critics, “Come at me all you want.” To those who criticized him for blaming the victim by preaching personal responsibility, he said: “I know a victim when I see one. And so did Christ. And so does God know victims. And so do we all recognize victims. But some victims you can look at and say, ‘Get up.’ “

That is, unless, you can force the feds to ‘pony up’.