On Dec 13, 2007, at 2:42 PM, Charles Brown wrote:
Who said let her rip ? As Raghu hinted, give the money to the poor instead of the rich.
Uh, then they'd just have to turn it over to the bankers to service the mortgages. If people at risk of foreclosure just kept the money, that wouldn't be fair to the suckers who are still paying their mortgages, either. The best thing to do would be to socialize the losses and get something in return - a new form of ownership (e.g., limited equity co-ops), new kinds of financial institutions out of the wreckage of the old, or something. Doug
