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Eery idiot that signed one of those mortgages shoule lose their temporary housing and every company/bank that wrote them should go under!

I don't wish evil on anyone. But if you didn't know that paying $500/month on a $300,000 mortgage wouldn't last forever, you're too stupid to live.

I never even considered an ARM when applying for a mortgage. Lock yourself into a low fixed rate on a 30 year and pay it off in 15 years or less--that's been my goal.

As for the housing prices going down--that's a good thing for young folks. The levels they were at, particularly in places like California, would have eventually turned every young person into a life-long renter.

I disagree because the crisis is too large and may overwhelm the US economy. I suggest providing liquidity to the credit system as Feds are doing. HOWEVER, I THINK THE ORIGINATORS AND BUYERS WHO SCAMED THE SYSTEM SHOULD BE INVESTIGATED AND TRIED. UPON GUILT, EXECUTED IN PUBLIC TO WARN FUTURE ORIGINATORS, BROKERS AND APPLICANTS NOT TO PULL THIS SH#T AGAIN. Old ancient saying - merchant class is needed, because they have the knack to produce wealth for the realm, however the merchant class is capable of being wicked and greedy, a ruler must find a way to punish them without destroying their ability to make money. The business men hasn’t changed much since ancient time. My saying - merchant class love life, money and are basicly cowards, so killing one of them to warn 10,000 of them is not hard to do, thus a nation’s ruler must take advantage of this historical fact to restore law and order, and prevent future scams (and definitely increase his chance of being re elected in a landslide).