And I suppose the appropriate response is to subsidize those who took out "no documentation, no down payment balloon mortgages", and now that the balloon feature has kicked in and contrary to their hopes that they could "flip" their house before the "balloon" took place, we as a society now owe it to them to use Federal debt to further subsidise their risky, irresponsible behavior? So let me get this right. I should pay my taxes in order to fund the incremental cost in Federal debt service incurred and reward the people who behaved irresponsibly, gambled and lost.
If such is the case, then I am sure you won't mind getting the bill for my losses at the Black Jack table.
Brian