Do you support the proposed mortgage bailout?

Do you support the proposed mortgage bailout?

Oh, sorry - wrong thread.

Those that can afford to stay in their homes should be helped. If they can afford the home with a fixed rate loan we should help them get an FHA loan. People who have interest only loans who can't afford a traditional loan on their homes should not be helped. They can't afford the house they bought.

Flippers & speculators can get in line behind the people who lost money in the tech stock bubble.

are to blame for getting loans that were so complicated they were bound to fail.

The interviewee said that when a consumer buys a toaster, nobody would think it was reasonable for the manufacturer to give the buyer a wiring diagram and, if the toaster exploded in the consumer's face, the manufacturer could escape liability by saying, "but we gave you the wiring diagram so you should have known that it was likely to explode." The interviewee said, essentially, that borrowing too much is a problem, but the lender has a team of MBAs and lawyers and it's reasonable for borrowers to believe that banks were giving loans that they expected borrowers to be able to pay back.

Another guest said that there's been a big shift in America from lending practices that where banks want consumers to be able to pay back loans to lending practices where banks are trying to cheat you of every dollar you have.