Yes, I agree, the entire system is screwed up. The banks and their buddies will do their best to milk this for every bit they can. No doubt about it.
I think the point that is being missed is that most of these poor souls should have never been in the situation to begin with. They went seeking the loan without any thought towards the future. They should deal with the consequences, not the tax payer.
It sure would be nice to see more stories that deals with how this mess started. If the root cause isn’t dealt with, it’s only going to be repeated.
