Over at the Huffington Post, market analyst (and 1990s dot-com bubble puffer) Henry Blodget asks the inevitable conservative question about the mortgage meltdown:
…in what universe is it fair and right for the government to single-handely change the terms of loans negotiated between two willing parties simply because those loans haven’t worked out so well for one side?
Specifically, why should banks be forced to cut strapped homeowners a break? Why should the rest of the country’s homeowners, who didn’t willingly take out mortgages they now can’t afford — or who didn’t buy houses — be forced to subsidize the dice-rollers who did?
Rev. Jesse Jackson has the answer.
