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Originally Posted by loquitur
The result is going to be fewer people being able to get their own home because the subprime adjustable mortgage option will be restricted from here on in. Yes, there will likely be fewer defaults but there also will probably be fewer mortgages.
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That would be a good outcome then; the free market at work.
Asking tax-payers to bail anybody out of this, either borrower or lender, is completely anti-free market.
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Originally Posted by willravel
...The hilarious part to this whole atrocity is that a more socialist government could have prevented this horrible mess by controlling interest rates, preventing the jumps to adjustable rate loans...
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Seriously, people make bad financial choices and your answer is socialism????
You aren'r really serious are you?