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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Bonefish who wrote (76910)3/26/2008 12:12:36 PM
From: KyrosL  Read Replies (1) of 116555
 
It's false to think that bailout plans help the borrowers.

At this point, the best thing for the vast majority of borrowers in trouble, especially lower income borrowers, is foreclosure. If they are able to string out foreclosure for a few months, and avoid paying rent during this time, as most do, they may even come out ahead financially. Hillary may think she is helping people keep "their" houses. It sounds so good, but it's really dumb. All she is really doing is helping the lenders, and condemning the people that bought hugely overpriced houses to a life of debt bondage.
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