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    I was reading this article in Friday's Philadelphia Inquirer that is calling for a voluntary moratorium on foreclosures in Pennsylvania until the state can get together their plan for a bail out.I see two things wrong with this.

• First, the mortgage foreclosure bailout plan that PA is working on will leave the most vulnerable high and dry. Their plan will allow "…a borrower whose house is worth as much as they owe to refinance into a 30-year, fixed rate mortgage" if they truly wanted to help those in desparate need, they would help the people who borrowed more than their home is worth.
• Secondly, am I wrong in thinking that failed business models should be allowed to fail? Sure, people will be hurt in the process, but aren't these people responsible for their own actions? The mortgage lenders will be stuck with a ton of foreclosed properties, legal bills and no income. They fail. Plain and simple.

I was speaking to someone on this topic who is a mortgage broker and he had said he's flatly told people "unless you're going to sell in two years or die w/in 3 years, this loan is a bad idea". What do the "uninformed" borrowers do? Sign the paper because all they see is the low percentage they start with.

Stupid greedy people/businesses deserve what they get. It's all a matter of natural selection. Be it in the business world or personal world.

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