The real victims of this fraud are the taxpayers, who now have to bail out the mess created by these government sponsored boondoggles.

Ah, but “the taxpayers” group is by and large comprised of the same individuals who bought homes under these conditions—plus people like you and me, of course. So we’re in the position of having little sympathy for the homeowners, but under all the “bailout” plans I’ve seen, they’ll be paying for themselves and their neighbors, etc., and we do have sympathy for the taxpayer. (And it appears to me that all a bailout will accomplish is extending the charade for a little longer.)

If there has ever been a more clear example of the redistributionist clusterfuck that is coercive, interfering (regulatory) government, I can’t think of it.