I ran across this article citing Chris Thornberg, who's often on the mainstream media. I wonder if this "new" idea of letting foreclosures take their natural course will take hold. Probably not, but good to hear a nationally known figure saying so.
http://thehousingbubbleblog.com/?p=5187
There was another article recently that said the same thing but more than media figures these guys are economists, and Thornburg in particular has been calling for a correction for some time.
Eventually MSM will catch on, but only after moratoriums fail completely, rework cram-downs lead to less lending from banks, higher defaults, and more inventory.
Then one day it will hit them - affordable housing is good.