If we can step down from the anger we all feel from the bubble and its inevitable popping, there may be a degree of resolution and, almost, justice in this outcome.
It’s been said that the whole mania involved stupid lenders making stupid loans to stupid people. Here the borrower is going to suffer since he is coughing up a lot of money from foolishly buying into the bubble mentality and is presumably a net loser even after paying only 25% of his 2d. The foolish lender will really take a haircut, and we piggs are happy to see he presumably did not sell the loan. And if he bought it from the originator he still deserves his fate for lack of due diligence.
Correct me if I am wrong, but don’t see any taxpayer money involved here. It is just possible that the guilty/foolish parties are the losers.
