The article is here.

Now when I've watched the people being interviewed on TV or read interviews with them on the web, the folks being foreclosed are portrayed as innocent victims of a system which:

1 - exploited them exclusively to its own advantage,

2 - with neither complicity nor gain for the mortgagee.

The reality, to me, is that these people knowingly and willingly gambled and lost. The mortgagors knowingly and willingly gambled. And stood to make a lot of money if they could foresee the future.

So are people with money on stocks. Gambling. Knowingly and willingly.

And at present are losing. That's the way it goes.

Would the Fed bail out bettors on the Super Bowl if an extreme underdog lost placing many bookies in jeopardy? Would MSNBC have interviews with bettors who claimed their touts told them it was a sure thing?

Nope. And the US taxpayer should not bail out these folks, big and little, rich and poor. So far the Fed is propping up the very, very wealthy.

As I've pointed out, the US is socialistic for the very wealthy, capitalistic for the small guy.

Arf