So,,, let me understand this. Home principle (please learn proper spelling) being under water somehow becomes a right for me, a taxpayer, to pay for the reduction of the loan people owe on their houses during the housing crisis? I guess after 10 or 20 years when these people sell their homes for a profit, they will reimburse me and every other taxpayer all that profit, because that profit is actually what they still owe on the house, but was forgiven. Such a nice word "FORGIVEN." Just call it what it is,,, buying future democrat votes. The loans on those houses are owed to Fannie Mae and Freddie Mac, which in other words is owned by us, the American taxpayer. I have no sympathy for anyone who could not do their own math and figure out what they could or could not afford.
Oh, OK,,, you are saying "but all those people were screwed by the big bad banks." Really! I don't think the banks set the price for the house. That was the home builder. Go sue them if you think something was unfair. They collected all the money, you just owe what you borrowed. Oh, OK,,, you are saying "but we will lose more money over the long run by all the houses being foreclosed on." Well, believe me, those foreclosed houses will turn around and be sold to someone else under a new loan. The house does not just vanish. These are the same people that have no shame about not working, collecting unemployment until it runs out and eating off food stamps. It has become the liberal definition of "the new normal." If this makes a liberal mad, I don't really care. I can live with the knowledge that there are prostitutes to the government for anything free. But, it can't last forever. Sooner or later, the liberals will run out of other peoples money to spend. China will soon tell us to "stick it and pay up" when we go asking them for more money. It's pitiful! The absence of personal dignity and self reliance.