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What really chaps my ass about the “mortgage crisis”

July 25th, 2008 | Government Sucks, People Suck

With this whole “mortgage crisis” where people are finding out that they screwed themselves by borrowing too much money, and then want the government to bail them out…

Excuse me…

I didn’t get in on the action because I had the sense to know that the risk involved with my buying a house would be too much. Then I get to pay the tab for the people who tried and failed?

I know that life’s not fair, I just wish that we did less to give safety nets to people who caused their own troubles. Natural selection doesn’t occur if people aren’t allowed to fail.

  • http://thethunderchild.com Caroline Miniscule

    For every home owner who was *stupid* enough to get involved in a mortgage they couldn’t afford, there is another home owner who was lied to by a predatory lender – not told that their ARM would reset so high, etc. etc. You will say, well, they were too stupid to read the fine print. Have you ever tried to read the fine print? IT’s got more legaleze in it than anyone can understand.

  • Sally Dorn

    I concur. I don’t want to pay for other peoples’ extravagances. At every closing there is a truth in lending statement that states clearly what the loan costs and how high the rate can go. This is not “fine print.” If the lender lied on the truth in lending then let the lender and their attorneys pay to protect the innocent borrower. Let’s leave the rest of us out of it.