When is Obama going to save the house just like FDR saved the farm?
A telling analogy to our own Foreclosure Crisis from our friends across the pond:
"If one family defaults on its mortgage, they are pariahs: if 200,000 default they are a powerful political constituency. There is no shame in admitting that you too were mauled by the Celtic Tiger after being conned into taking out an unaffordable mortgage, when everyone around you is admitting the same."
If you thought the bank bailout was bad, wait until the mortgage defaults hit home - The Irish Times
THE BIG PICTURE:Ireland is effectively insolvent – the next crisis will be mass home mortgage default, writes MORGAN KELLY
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