Should Government Bail out the Housing Industry?

I want to post the following link from a friend of mine. His name is Jon Coupal who is an attorney and president of the Howard Jarvis Taxpayers Association. Jon talks about (in layman's terms) the current mess affecting our Real Estate Economy. Most articles out there do not adequately convey to the public the real consequences to the taxpayers if the government bails out property owners who are in trouble because of bad loans.

There are pros's and con's to this debate and I would like to hear your take and feelings on it. Feel free to contact me with questions or comments.