Originally Posted By: cupo
Originally Posted By: chasbo
How's about $700billion passed out to all people with a mortage?


Then Joe Dickweed who got a subprime loan on a house he can't afford will get a check. And the schmucks who were saving for a down payment, or already payed off a mortgage, will get a devalued dollar.
I say let the system bleed. I really don't care if people can't get 72-month financing on a new Hummer anymore. Let lending standards get tight. It's not a bad thing if lenders will only give money to people who have a high probability of paying it back.
EXACTLY. as someone who has been diligently trying to save money for a down payment on a house(that's been postponed since the daily zero is kicking us to the curb soon), i have no sympathy on those involved in subprime ARMs. all it's done is drive up housing prices, cause a lot of urban sprawl and hurt our country.