As some of you probably know, there’s an ongoing debate on Capital Hill (that’s Washington, DC) about whether to help homeowners facing mortgage default. On one hand, politicians generally hate people. On the other hand, people vote.
Speaking of people… Americans without health insurance has hit an all-time high. So… I think I get it. This theoretical sub-prime mortgage crisis is just a brilliant way to make the uninsured seem insignificant compared to the defaulted. What’s worse; untreated cancer, or eviction from a home you couldn’t afford (NOTE: this might be a trick question)?
Speaking of not-rich people… Thank goodness we’ve restricted personal bankruptcy so that all these sub-prime mortgage defaults can generate a robust system of economic slavery. People had felt in control of their lives for far too long.
Fortunately these folks have “Desperate House Wives” to take their minds off of their poor decision making, and feel better by glorifying adultry. What’s worse; losing your home that you could never actually afford, or the trophy wife you moved into that house after you dropped the wife that put you through medical school?