wrong wrong wrong!

Cody you have this one wrong. Your ranting and raving about free market capitalism is about 10 years too late. Where were you when the local governments were on the take, the federal government was allowing wall street to use mortgages from the American people were sold, traded and retraded in order to leverage profits. You benefitted from this and your hedge fund did as well regardless of whether you say you were not involved in cdo's or mbs's. The market was booming in part because of the profits from these securities and anyone that was in the market profited. You got the benefit of the irresponsiblity of wall street and now you want to wash your hands as if free market was working. It wasn't working. I was setting the country up for a real estate crash and most people who own homes, who did nothing wrong, are suffering. It is not about buying things people couldn't afford. When you buy a stock, you pay for it once. If the price goes down you don't keep paying you just lose your money. Your stock broker got paid and you lose. Now what you and many other people who like to act as though they are smarter than everyone else because you have profited from the entire mortgage and real estate bubble because these levered mortgages created huge profits. The market would not have been where it was without these un checked selling and packaging of these loans. You benefitted. The Average American who hold a mortgage now on a property that may be worth less than the value of the home now is labeled by you "as a person buying things they can't afford". But you want the current companies to write down the losses then sell their assets at pennies on the dollar and then collect 100% of the term value of that loan when the collateral underneath the loan is not as worth what it was 2 years ago. It is a load a crap and for you to rant and rave about without considering the fact that a mortgage not the same a stock and should not be sold as such. Because wall street levered everyone in the country without our knowledge you act as if it was everyone's faul and that they were wrong for getting a mortgage. Another load of crap. If you buy a stock for 100 and the stock goes down to 50 are you going to pay 100 for it? but if you bought it you you lost 50 $ but you aren't expected to pay for it at full price again. But you are saying that wall street gets to write off all the losses after they have profited on these mortgages and made their cash, now they sell them at rock bottom prices and they get to make 100% on the investment because it is a mortgage when the underying assets is worth half price. It is apples and oranges and if you don't think through you end up blaming Americans for the cause and punishing them because you thought you were smarter than people who wanted to own their own home.