From a Miami Herald Opinion Piece: http://www.miamiherald.com/2010/04/01/1557877/new-lifeline-for-struggling-homeowners.html
"For homeowners who played by the rules -- those who weren't lured by absurdly low balloon interest rates and managed to stay out of trouble -- this is a bitter pill to swallow. They neither asked for nor received help from the government to meet their payments. "
Friday, April 2, 2010
The mortgage, Wall Street, and Auto bailouts may make some feel good, but they will lead to more failure. What you reward you get more of. Rewarding failure leaves little opportunity for hard lessons learned. At the same time failure is being rewarded, success is being punished- what you punish, you get less of. We have lost our collective common sense in America.