Quote Originally Posted by sailor View Post
Sorry, but "the answer is simple ..." is nine years too late - the financial horse is long gone, and now you want to close the barn door! The problem is the irresponsible loans of the PAST that are destroying the financial institutions that the government is trying to prop up. The "everybody can own a home - don't worry about paying off the loan" days are finally at an end, but the damage has already been done. We will recover, as we as a nation always have, but there will be a lot of unhappy former home owners (probably) go by the way side.
But, what I said in my last post is true. This situation developed into a crisis because too many loans were given to people who couldn't afford to pay them back. I don't have a problem with Fannie and Freddie doing what they do, but when it is as a result of loans being given out that they know can't be paid back, and then taxpayers are asked to bail them out, then I do have a problem.