Who Supports a Housing Bailout?

Scanning foreclosure news, I find opposition to a bailout bill coming from a Representative from Modesto (link).

Say again, Modesto? Modesto, which just might be the foreclosure capital of the planet? Can he get away with that? Apparently he is willing to try. Reading stories like this (and listening to California voters on PBS tonight), it sinks in on me that not every voter may support the idea of a housing bailout. I suspect a lot of voters don’t cotton to the idea of saving shareholders of lenders (and I suspect they are a little hazy about arguments on preventing a bank meltdown). I’ll bet there are quite a few who see no compelling need to help those who used their houses as ATM machines.

There might be a little more compassion for first-time homebuyer, particularly if you can fudge the issue with mirror tricks like “stretchout plans” that don’t seem like real money.

On the other hand, I wonder if there may not be more leeway than usual for a candidate in either party who just says “sorry, tough luck.” I wonder how it is playing in Modesto.