As someone who isn't in trouble with a mortgage, I see little to no value in helping the relative minority of the population who were clearly irresponsible. I depend on the banking industry for nearly every aspect of my day to day life. Conversely I do not depend on my neighbors all day long. Lets consider last Friday for me.
|6:20AM||Arrive at the metro and use my bank debit card to add value to my metro card.|
|6:45AM||Arrive at Starbucks by my office and use my bank debit card for a coffee.|
|11:45AM||Shop online and use my bank debit card to buy a gift for my wife.|
|12:15PM||Purchase lunch, using my bank debit card.|
|2:30PM||Check my bank account online to see that my payroll cleared.|
|2:35PM||Check my 401K account online to verify the correct contribution.|
|4:15PM||Arrive at the metro to go home and use my metro card which was funded by my debit card this morning.|
|4:50PM||Arrive at the grocery store on my way home to pick up milk, hamburger rolls and dog biscuits which I paid for with my bank debit card.|
|7:25PM||Sign onto to my bank website to pay bills for electric, phone, satellite TV, etc.|
Not one single time last Friday was I dependant upon my neighbor staying in his over priced, ill financed home. I am betting most people's days work something like last Friday did for me. Similarly, none of the 90%+ Americans who are not in trouble with their mortgage need their neighbor to stay in their home to get through the day.