2010-03-25ritholtz.com

" 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."


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