[quote=SD Realtor]In 2008 we had an approximate total mortgage debt of 11 trillion.
So instead of making Wall St richer we could have taken a few trillion of those dollars and simply payed off a large percentage of those homes. A simple program that would have perhaps identified owner occupants with incomes under say 100k could have had their entire mortgage paid off. Then payoff a smaller amount for some higher incomes. Well I guess it was better to bailout Wall St and keep the majority of the population in debt.[/quote]
Instead of favoring home debtors who were irresponsible, we could have given everybody (including renters) a certain amount, instead. Or, we could have let the lenders and borrowers who caused the bubble sort it out themselves, and not used the GSEs and FHA (or any other entities/methods) to bail out the private market.
