Not everyone for bailouts...

This CNN money piece points out not everyone is in support of the Federal Government bailing out the mortgage industry. Personally I think some of those caught in ARM's that were buried in fine print from a consumer aspect could use some assistance but not necessarily the banks or the mortgage companies who did cause some of the problems. Some of the solutions suggested:

Consumer advocates and lawmakers who support a broad foreclosure-prevention effort contend the idea is not just to lend a helping hand to some, but to prevent whole neighborhoods from declining in value and hurting all homeowners.

And they're sounding the alarm that the efforts so far have been paltry relative to what's needed to significantly reduce the estimated 1.7 million foreclosures that may occur by the end of 2008.

"Responses have been more Katrina-like," said George Goehl, executive director of the National Training Information Center, a network of community organizations working with borrowers to negotiate loan workouts with lenders.

NTIC has called on lenders to impose a two-year moratorium on resetting adjustable rate mortgages (ARMs). It also has called on lawmakers to more stringently regulate brokers and lenders to prevent abusive lending.