Who are the people the government is trying to save from losing their homes in the mortgage "crisis"?
Normally, when there is a question of govnt intervention to rescue individuals from their sorry lives, said individuals are spotlighted in the media. This way, the rest of us can see how those victims of circumstance (or victims of evil fatcats?) are just like us, and that their plight could well befall us all, so therefore we should sympathize and hand over our tax dollars.
Why no images of noble, simple, hard-working folk who had no choice but to mortgage up to their eyeballs and accept adjustable rates to boot?
This "mortgage crisis" topic has been in the news for a long time, and I want to know just exactly who the govnt is trying bail out. Not names, but circumstances. If these people were defrauded, for instance, why no law suits?
The free market is not a perfect place. In the free market, people suffer for their "mistakes". When they do, the rest of us (are supposed to) learn not to make the same mistakes. What lesson will American borrowers and lenders take from the current govnt interventions? Do you really have to ask?
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