Among other things, she notes that FHA loan performance is already less than stellar. And I love this rant:
When I pay my federal income tax next spring, perhaps there will be a box I can check to elect whether or not I’d like to give my taxes over to the corporate welfare plan cleverly disguised as more FHA loan programs and subsidizing pre-foreclosure loan modifications. Government was never intended to bail out corporations. Let the invisible hand of the free market take its toll. Let the corporations that screwed up go down, let those employees re-enter the workforce elsewhere, let the homebuyers who fell for pay option, interest only, negative am ARMs re-enter the home market as renters.
