We can agree:
There certainly were many culprits; I am all for giving relief to those who were defrauded; and I too wish that being sleazy was a crime.
We can disagree:
People who are underwater because they didn't make a down payment are not entitled to government relief any more than I am because I lost equity in my home.
And the vast majority of these loans were underwritten by F/F. The banks were willing participants but were following F/F policy. The only reason these loans were approved was that F/F was buying them and the banks had no liability. The grownups involved clearly knew enough not to add these dopey loans to their portfolios - unlike those who started this sub-prime mess.
The mystery is that intelligent people are supporting a deal that encourages people on the edge stop paying; rewards people who already have stopped; has no effect on F/F loans at all; and has me wondering why I don't get $1,800 and a principal reduction.
And thank you for answering.