And what's your point? Fiscally resposible people should only purchase what they can afford. Hey. Wait a minute. Wasn't the idea that every one deserves to own their own home even if they can't afford the mortgage what got us into this mess in the first place?

My point is directed at the topic of the thread. Isn't this exactly what you described in the current model?

As for the other point you attached above: what % of these toxic mortgages do you suppose can't realistically be expected to be repaid? Some people regard 22% as an unrealistically high default rate, which is why so many are eager to participate in the anticipated gold rush as distressed mortgages are sold off at pennies on the dollar. Others say that government should retain control, selling foreclosed homes at 50 cents on the dollar which would still leave the taxpayer a 100% return on investment calculated today.