i totally agree. I am not in favor of bailing out people with variable rate mortgages that didn't convert when the rates were at 40 year lows. They opted to beat the system and higher monthly payments, but got caught. Now that housing value is down, they can't refinance. Shame on the banks for letting people borrow with bad credit anyway. Didn't we do this in the 80's, the SNL collapse due to bad loans? Are these the children of the bankers that screwed the pooch back then?
I remember last year when one of the investment houses, Bear Stearns (?) gave out 670 million in Xmas bonuses for such a profitable year. When it goes south, they should ask for outside help. Not too fair.
So much for early retirement.