To all my friends: Please read this article at Safehaven and heed what this man is saying. He speaks the truth. What we need to do;
1. Don’t take on any more debt.
2. Call or write your congress-critter and tell them not to support a mortgage bailout.
The people that have been seen crying on TV about how they are about to lose their home are right. They ARE about to lose their home. What you don’t see is that they will have to move from the mansion they live in now to a more downscale dwelling which they should have been satisfied with in the first place. Their timing was bad. They expected home prices to keep going up so they could bundle even more debt into their mortgage but when a bubble bursts someone always is left holding the bag. Suck it up and live with it but don’t expect the tax payers (us) to bail you out.