Les Christie over at CNNMoney.com recently wrote an interesting article on the line government officials are trying to walk where they help people with bad loans but don’t reward reckless borrowing practices. Christie writes:
Treasury Secretary Hank Paulson is walking a fine line, pushing the need to help troubled mortgage borrowers without rewarding past risky behavior.
“I have no interest in bailing out lenders or property speculators. Still, we must recognize the very real harms to families affected by the housing downturn,” Paulson said in prepared remarks for a speech given Tuesday at Georgetown University.
“We must take steps to minimize the neighborhood effects and the macroeconomic effects of this housing market correction,” he continued.