mortgage meltdown

There’s been a lot of talk about helping out homeowners. Alan Greenspan was the latest to suggest some sort of bailout.

What is it about homeowners that elicits such sentiment? Where were these concerned parties when the bankruptcy bill was pushed through? Is credit card debt inherently less noble than mortgage debt?

Or if you like your victims even more blameless, consider the plight of recent college graduates. Many are entering the workplace with student loans in excess of $100,000. It limits their career choices and blocks public service and entrepreneurial innovation. Are we really willing to sacrifice these kids so people with terrible taste can stay in houses they couldn’t afford in the first place?