Reactions To Treasury's Mortgage Plan

When talking about foreclosure people say the darndest things!

Calculated Risk: A few quotes from David Streitfeld’s piece in the NY Times: Mortgage Plan May Aid Many and Irk Others

“Why am I being punished for having bought a house I could afford? I am beginning to think I would have rocks in my head if I keep paying my mortgage.”
Todd Lawrence, homeowner, outside Norwich, Conn.

“If the lunch truly is free, the demand for free lunches will be large.”
Paul McCulley, PIMCO

“If the government says, ‘Prove that you can’t afford your house and we’ll redo your mortgage,’ then people are going to try to qualify.”
Peter Schiff, President of Euro Pacific Capital

“I guess they are forcing me to deliberately stop paying to look worse than I am. Crazy, don’t you think?”
Anonymous Countrywide borrower, Los Angeles

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