From The Agonist:
As we do figure out how to handle this problem, however, we should recall that most people borrowed money to have a place to live–not as a means of cashing in on the country’s housing price boom. And the boom made the American dream of owning your home that much riskier. While this doesn’t mean that the federal government, or the Federal Reserve, should necessarily rush to bail out borrowers or lenders with bad loans, it does mean that the question deserves a far closer look than suggested by conservative pundits.
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