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Super Moderator
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Join Date: Oct 2005
Location: California
Posts: 7,328
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Super Moderator
Join Date: Oct 2005
Location: California
Posts: 7,328
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The financial sector could've fixed this themselves... all they had to do was rewrite the loans and rework the interest rates that a lot of borrowers could no longer afford. This would've kept borrowers from defaulting to a certain extent and they would continue making payments.
I'm with those who say, let it fail. As the analysts love to say "the market will correct itself." Let the banks become property owners and have them keep a few millions homes on their balance sheet.
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