- Oct 30, 2004
I agree. Let the morons who overextended themselves and who drove up the prices of housing for everyone else take it on the chin.Originally posted by: piasabird
I think it is a mistake to bail out the people who are causing this foreclosure problem. I look at this as a correction. Institutions lent out too much money to too many people with little or no credit or collateral using ARM Loans that will all reset. So just let the system collapse for a while and make the prices on housing drop to realistic rates. We need to quit bailing out people and banks that make these bad loans. Let them all crash and burn. Only the strong will survive.