talk.politics.misc

On Wed, 22 Aug 2007 20:13:21 -0700, "Bill Bonde ( 'Hi ho' )"
wrote:

>
>
>Steve wrote:
>>
>> On Wed, 22 Aug 2007 18:42:36 -0500, zzpat wrote:
>>
>
>> >Imagine the Fed moving to give individuals billions of dollars to stop
>> >record foreclosures? It's not going to happen. Many mortgage companies
>> > (if not all) will probably still go under but the Fed is protecting
>> >the rich from their bad investment.
>>
>Who are they being "protected"?
>
>
>> The record foreclosures are of mortgages to high-risk losers who
>> couldn't pay them...
>>
>That's partly true, and people with more money who overbought are well
>represented too.
>
>
>> They're sleeping in the beds they made. The
>> money "pumped" into the system is only for loans to the people who
>> hold the bad papers... they'll also still pay a penalty for their
>> actions...
>>
>I don't feel sorry for those who loaned to people they knew couldn't pay
>it back.

Me neither..