The fact is that people that couldn't afford houses bought houses. Sometimes they lied about jobs or income, sometimes lenders didn't check or didn't care if the borrowers could afford to make payments. In many cases people got variable rate mortgages and got in trouble when (surprise, surprise) the rates went up. Lenders are businesses. Their job is to make money off borrowers. If they can loan, foreclose, evict and resell at a profit that's their right. I hope that their shareholders are cool with that plan (when it works). The problem now is that the lenders can't resell the foreclosures and aren't making any money. They're now rethinking their lending practices aren't they.

Unfortunately, any borrowers that might have been in the market for a house can't meet criteria now to buy those houses.

You know who the big winners are right now? Rental companies. Apartment rentals must be going through the roof.

There's enough blame to go around. There is no one responsible party. Everyone was out to screw whoever they could to get the best deal right away.

And one other thing . . the government has no place trying to fix what is really just a huge market adjustment. Too bad it's an election year and it's good "business" to get involved and screw up those of us who were responsible about borrowing responsibly. Because, in the end, it's those of us the made good choices that are paying for the idiots who were unprepared for change

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