Originally posted by groingrinder
Not only do they get away with it, but they are monetarily rewarded for it and set up to screw us again by lending us back our own money at interest.
The government should have just paid off the loans of the homeowners. That way the banks would still get the money on the defaulted loans, but the
little guy would get to keep his home as well.
I disagree. I just bought a house for $175,000 (30-year fixed-rate mortgage), and I bought only as much house as I could comfortably afford.
As a taxpayer, why should I, who's trying to be responsible with her money and live within her means, pay for the idiot who makes $25,000 a year but
thought he could have a $500,000 McMansion?
That would just set a precedent for others and create a situation where the prudent and responsible are punished, and the wasteful and stupid are
rewarded.
PS. I did cheer when that Fuld guy got punched, though.
[edit on 9-10-2008 by sylvie]