Stand Stearn against taxpayer bailout of homeowners in foreclosure

As amazing as it is, Guambat has to agree with the White House in opposing legislation for taxpayer funding to "help" mortgage holders facing foreclosure. “Taxpayers shouldn’t be taking on the risk of foreclosure,” said Tony Fratto, a White House spokesman.

Whilst greater blame lies with the finance industry in the so-called subprime meltdown, homeowners have not been entirely innocent, or so Guambat reckons.

Therefore, Guambat reckons the Fed ought to require JPMorgan to bail them all out.

There is precedent, after all.

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