Richard Weed

Turning a Costly Blind Eye to Mortgage Speculators

I'm glad to see some press on one of the biggest instigators in this mess. I've had people say, "Why are you so heartless about people who are losing their homes?", but the truth is, I have no sympathy for the speculators who were greedy and lost on their gamble. The idea that any of these folks could be "bailed out" by the government assistant programs makes me sick. While I still don't really gush over the people who have an "Owner Occupied" property and are struggling to keep up with their rate adjustment, at least they were just trying to own a home, not speculate and perpetuate greed. Thanks for the insightful article.