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December 22, 2007


I don’t know who I feel sorriest for:

-- the people who were forced at gunpoint to buy houses they couldn’t afford and now face the prospect of having to move into houses they can afford

-- the people who refinanced their houses up to the last nickel of their value with every expectation that they could continue to refinance in ever-increasing amounts and treat their houses as a magical golden egg-laying goose

-- the people who were not informed that “adjustable rate mortgages” meant that rates were adjustable, or

-- the people who invested in mortgages made to borrowers with lousy credit and now find that many of those people have turned out to be poor credit risks.

So many victims--it’s every Democrat’s dream.

And a Merry Christmas to Brendan and all of his readers.

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