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October 21, 2007


Ed Darrell

Renegotiating terms loan by loan is too costly and time consuming.

If it's too difficult to do what is considered the free market solution because doing the right thing is "too costly and time consuming," the giant mortgage speculators who cannot find the time to do things right will have to find the time to deal with a government-imposed solution, I predict.

Which is more fair, that individuals whose incomes have stagnated or declined be forced to pay for the errors and outright laziness of big investors, or that the big investors should cover the costs?

In any case, we shouldn't let big investors shift the costs of their laziness and stupidity to victims of the economy, or other taxpayers.

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