The lenders RICHLY deserve the losses. I hope the guys on Wall St. lose everything. They took ridiculous risks due to their immense greed and I have no sympathy for them.
HOWEVER, my concern is that there WILL be a taxpayer funded bailout for Wall St. in the guise of protecting the poor foreclosure “victims”.
Wall St. will get bailed out by taxpayers. The reckless homeowners who bought homes they couldn’t afford will get a super low interest rate lock, some other subsidy or at the very least have had the opportunity to live in a home they couldn’t afford, rent free for a few months and also had the good fortune of living lavishly on home equity lines for a few years.
The real victims are the people who were responsible, worked hard for their money, paid their taxes and did not exhibit this reckless behavior. The bailout is going to be on the backs of such people!
