Madam, – The ludicrous suggestions that homeowners struggling to repay their mortgage should be bailed out is a further example of “knee-jerk” reaction.
No borrowers were forced to take 110 per cent mortgages, car loans, holiday loans, etc. It was their decision, and their gamble. Yet the “blame everyone else” attitude has prevailed.
The consistent call to punish the financial institutions for reckless lending needs to be matched with responsibility by homeowners who partook in reckless borrowing. – Yours, etc,