The Great Foreclosure still haunts.
 

Those who lost their houses in the "Great Foreclosure" are increasingly being hunted.

http://news.yahoo.com/americans-face...140325526.html

Those same banks were all too delighted to have the taxpayers bail them out. I would suggest the government step in and tell the banks to take a hike.

I believe that should be the right response.

Way back when an Irish labor leader said somthing like:

I don't mind if the Capitalists take an arm and a leg, but do the really need all four of me limbs?

This sounds like a newly created business opportunity like sub-prime mortgage. Debt collectors buy debts for pennies on the dollar and then collect whatever they can. I know that debt buying is not new.

The people who fell into sub-prime trap were preyed upon by the lenders. Now once again they will fall prey to the collectors. Sad to see the very institutions that were bailed out by taxpayers can once again go after the very same disadvantaged people.

I was never a fan of bailouts for the very reason we see here. We prop up large institutions for making bad decisions yet when it comes to the individual, they are left to fend for themselves.Anyone know here how much money was doled out to financial institutions and if any was paid back?

I used to work with a first generation Scotsman whose favorite line was, "you win some and lose them all". Apt in this situation.

I agree in cases where the foreclose was on a primary residence.

But if it was some would be flipper who got caught holding the bag on an investment property when the market tanked, I say Fuckem.