The Fed is desperately creating distraction after distraction as they try to glue the financial system back together before the house of cards collapses.

The plan will be debated in congress for years before anything changes. The true is that the public has been taken advantage of – and their lack of financial education has been exposed by the mortgage crisis. The government can not longer let people make mortgage decisions while putting the financial markets at risk. The coming regulations will have to be very heavy in order to be sure a home owner knows what they are doing. One of the new requirements should be to take a community education class on budgeting or mortgage before buying a house.

Joshua is right on the money – this is a good time for the smart people to buy up cheap assets.

I don’t feel sorry for anyone who has lost their home and I don’t think anyone has been taken advantage of in terms of predatory lending practices.

The banks told these people that their ARM (Adjustable Rate.. hmm) loan would at some point go up. At what point did this people not listen to this fact?

It’s the market, people didn’t do their homework, didn’t plan for the change in rate, and are now losing their homes. The great thing about the United States is there are people out there, like me, that are taking this so called “mortgage crisis” opportunity and buying up homes at an inexpensive rate.. and I’m doing it with FIXED rates.

Does anyone really remember taking a class in high school called “Common Sense 101″? Didn’t think so.. it’s learned people and a LOT of people just learned 1 of 101 lessons. No government intervention, unless they are providing Common Sense 101 classes.