From the Washington Post:

“The U.S. economy is going to take a hit, though no one can say when or how big. Government’s challenge is to limit the damage — especially to low- and moderate-income borrowers — without protecting lenders and investors from the consequences of their own bad business decisions.”

Apparantly only lenders and investors made bad decisions, those who took out loans with adjustable interest rates but were unaware that the term “adjustable” meant the rates may go up did not make a bad decision.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Dumb Quote of the Week, Politics