[quote=XBoxBoy]Yikes, if this is even half true it’s scary as hell. This story reads more like an article from The Onion than anything else.
XBoxBoy[/quote]
Nothing surprises me any more. The main goal of a lot of the activity going on is to keep home prices high, and to keep as as much of that inflated value in the pockets of existing homeowners, either by supporting the prices, or repudiating the debt used to buy the homes, or both. If someone creates a process that does that, and offers even a mildly plausible argument for its reasonability, fairness, and economic value, it will be quickly accepted. 90% of the population will accept the specious arguments they are fed and, at this point, the main actors feel no embarrassment or fear before the remaining 10%. It’s all snouts into the trough now, regardless of who’s looking.
