[ladyjane]

"There is considerable discussion by incoming House Finance Committee Chairman Barney Frank [D-Mass.] to enact a predatory lending law for these mortgage lending problems,

Right. More government intervention and more legislation needed. Let's ignore personal responsibility.

[Moonman62]

"There is considerable discussion by incoming House Finance Committee Chairman Barney Frank [D-Mass.] to enact a predatory lending law for these mortgage lending problems,

If there wasn't a subprime market there would be screaming about how the underprivileged can't get loans.

[Cementjungle]

Right. More government intervention and more legislation needed. Let's ignore personal responsibility

As the situation worsens over the next couple of years I expect a "bailout" law to be passed in Congress. It will cost the rest of us (either in direct taxes, or some tax on existing mortgages) to pay off all the defaulted loans. The bill will pass after intense lobbying (read bribes) by mortgage institutions.