SubPrime Loan Solution: Let’s Bail ‘Em Out

Last week’s article on the latest in the SubPrime loan arena really irked me. Turns out that consumer groups called on congress to revise the current bankruptcy law to save the homes of borrowers drowning in the rising tide of foreclosures.

I am certainly a sympathetic person, but that smells like another government bailout to me. Shouldn’t a potential homeowner applying for a loan have some responsibility as a fully functioning adult in the wealthiest country on earth to know what he is getting into when purchasing a piece of real estate?

It just rubs me the wrong way. If this bailout comes to pass, surely it could be expanded. Maybe if you as a mutual fund investor lost money during the last bear market, you should be able to apply for a refund?

Of course, I am being ridiculous, but what’s your view?

About Ulli Niemann

Ulli Niemann is the publisher of “The ETF Bully” and is a Registered Investment Advisor. Learn more

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