My last two posts in this thread are coming true ...

[szh]

... zerothread/370335.

Unfortunately,

Z

[EmKayThree]

I totally agree with your e-mail that you have sent to our Congress person.

Why should it be that people that are unable to handle their financial situation be bailed out? It was their own fault for getting themselves into that predicament.

But like always, our Class gets screwed over and over and over, I might as well bend over already and ask whens the next date?

[audtatious]

Basically, a misguided effort by the Clinton Admin and Congress, that became unmonitored as a result of the policies of the Bush Admin, has rippled enormously through other economic sectors. Politicians should damn well learn not to dabble in economics! Z

This hits it right on the head. The pressure to push forth "every citizen should have the right to own a home" gave people who should be slapped upside the head the opportunity to push their pet projects and while the Bush Admin did bring up "regulation" from time to time (Fannie and Freddie) they simply let Frank and others viewpoints steer us into this disaster.

The failure is with them all, including those who were stupid enough to buy a house without understanding the risk and contract (or simply not caring).