See that’s why I need not post things past midnight after a night of drinking, but thank you for the links equlizer. All of them make valid points but my economic beliefs are vintage Adam Smith. Lobbyists, corporate evildoers will be had by karma as will the fb’s. Government over-control of markets always fails, blackmailing or however you want to paint it, it’s still a defense to meddling in the market as much as it was meddling itself and it never works for either side. Lenders that took risks are licking their wounds right now, borrowers who shouldn’t have are doing the same, who are you to prevent them from learning lessons, there were no gun pointed at anyone’s head and that is when the gov’t should step in, not before.

Lets say every locality could adopt protectionist mortgage rules, would that benefit you and I, no it wont. The government cannot make stupid people smart, it cannot eliminate risk and it certainly cannot control markets without penalty.

All human situations have their inconveniences. We feel those of the present but neither see nor feel those of the future; and hence we often make troublesome changes without amendment, and frequently for the worse. -Benjamin Franklin