The people that bought these homes with nothing down have little to lose. That have little invested. On the other hand we have stupid lenders that lent money where they shouldn’t have and created this mess to begin with. They should pay the consequences. After all they did it in the first place to make more money. Their greed got them where they are. Now comes reality. To erase the consequences for their greed only invites more of the same at others expense. A big fat NO!
My advice to Bush: Jawbone the Fed to lower rates to give the economy a period to adjust - give it a soft landing - there are a lot of "innocents" that would be hurt as well in a crash.
Nite. ;-)