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E.Central MN | I don't disagree with your statements at all. But you've mentioned that it(the financial/banking industry) is based upon rules which the govt has put in place to protect borrowers as well as lenders. If those rules turn out to be insufficient in terms of lack of oversight, or discriminatory, or fail to prevent predatory/unsound business practices then some action is required. Its reasonable to assume that actions to resolve this crisis (including bailouts) may help ensure that foreign entities will continue to supply funds to this country while inaction might spur the opposite effect. The dilemma for future borrowers is that the cost of increased foreclosures/bankruptcies will be passed on to them with or without any action by the govt. | |
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An Excellent Comment-Sez it all.
