Destroyed housing gamblers.
Exposed mortgage fraudsters.
Homes as lottery tickets.
The vast majority of people "losing their homes" are not the innocents portrayed in the media or by Hillary Clinton, taken advantage of by "predatory lenders". They're just your typical losers, chain smoking at the casino, hoping against hope for 'the big score' that never came. They're gambers who bet and lost. They're people who committed mortgage fraud, yet won't see a day in jail.
AND THEY ARE NOT DESERVING OF ANY KIND OF TAXPAYER BAILOUT. GOT THAT OBAMA? GOT THAT HILLARY? GOT THAT MCCAIN? GOT THAT PELOSI, REID, SCHUMER, DODD AND BUSH?
Thanks Seth for the link... Great series on the crash at the Minn. StarTribune. Read 'em all, and you'll be especially enraged with the rampant illegal cash-back schemes that were out there. Crime paid HP'ers, even for the gamblers going into foreclosure. Why? They got to keep the cash, and mortgage fraud isn't a crime anymore in the United States.
Housing bets gone bad
Wright County was a haven for speculators -- until they got burned in the downturn.
Across the country, from the desert suburbs of Las Vegas to the treeless subdivisions of Wright County, many homeowners face a predicament of their own making.
They gambled big that housing prices would continue to shoot up. Some bought homes as often as others buy new jeans, occasionally in return for thousands of dollars in kickbacks. These investors ranged from small-town working people looking for a quick payday to sophisticated real estate professionals who bet with other people's money, occasionally defrauding lenders in the process.
Now, with home prices falling and mortgage payments rising, panic has set in. Investors are dumping houses on the market before prices collapse further, or simply turning the keys back to the lender. That, in turn, is dragging down values for even longtime homeowners, wiping out the equity they'd built up over the years.