More Foreclosures, Please . . .

" The latest actions from Washington as well as Wall Street banks include all manner of mortgage mods, foreclosure abatements, and other extend & pretend measures. These are not only ineffective, they are counter=productive. From a moral hazard perspective, the reward the reckless and punish the responsible. Worse still, they are yet another example of penalizing middle America for the sake of Wall Street banks."