Mark Cuban has a fun post asking why we should bail out underwater mortgages and not car loans:
You all do realize that anyone who buys a new car is UNDERWATER
the minute you sign the papers and drive off the lot ? That you get
further and further underwater every single day ? Maybe thats why so
few are buying new cars ? We havent instituted a bailout for their
underwater car loans.
the minute you sign the papers and drive off the lot ? That you get
further and further underwater every single day ? Maybe thats why so
few are buying new cars ? We havent instituted a bailout for their
underwater car loans.
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Befuddled 
Interesting idea. It’s good to see others’ point of view.