Something inside of me died today when I read this article.
This madness has to stop. This is nationalized housing.
A government guarantee for subprime mortgages is so wrong on so many levels. It:
1) Punishes fiscal responsibility (savers will have their tax dollars spent on the profligate and dishonest)
2) Deepens the federal debt (when borrowers, ultimately, cannot pay for these mortgages the government is on the hook)
3) Lets the subprime mortgage scum off the hook.
That's just for starters.
Where is the sign-up sheet for the riot?
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