Great Post from MM on the Mortgage Bailout

There is a great post here from MM about the mortgage bailout and how ridiculous it is.

I understand that this is a big problem for a lot of families, but an even bigger problem for a lot of investors who took a gamble and lost. That's called risk. Every investor makes it. I've still got capital losses that are carrying over from bad risks. That's the game that investors play.

I remember when we got out current mortgage, the representative was really pushing an ARM and I finally said, no I want a fixed rate. This is a problem between businesses and private citizens. It has nothing to do with the government. The government needs to stay out of how banks run there mortgage business. If they had done that in the first place, we might not even be in this mess.