I love Elizabeth Warren. She's doing exactly what she was brought in to do. That being said, however, why are we looking to keep the housing bubble inflated? Instead we need to CONTROL the deflation of the housing bubble.
The people who loaned money, knowing that the loan would never be able to be paid off, should be arrested for fraud or extreme negligence. The people who took those loans, that were misled or lied to, should get some assistance but that doesn't mean they should get to keep a house they had no business buying in the first place.
There were many responsible people who, because of the housing bubble, were priced out of buying a home. If all we do is focus on trying to keep people from losing their homes and therefore keep housing prices from coming down to their proper level then all were accomplishing is keeping the housing bubble artificially inflated and keeping real buyers from being able to afford to buy a home.
Where there was fraud or criminal negligence, let the government assist/prosecute.
Where there wasn't, let the market do it's thing. The responsible people in this country deserve a shot at a home and shouldn't be punished for being responsible and NOT taking out an irresponsible mortgage!
Read the Article at HuffingtonPost
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