Great news for the financially irresponsible. The givernment is coming to the rescue! (Hilariously, I just fat-fingered and spelled ‘government’ wrong, but if the shoe fits..)

The U.S. Treasury Department has been pushing the mortgage industry to agree to temporarily freeze interest rates for some borrowers who took out loans with low teaser rates that will soon be resetting much higher. More than 2 million borrowers are estimated to be facing rate resets.

Clinton said any agreement should include a moratorium on foreclosures of at least 90 days on owner-occupied homes with subprime mortgages. Any agreement should also include a rate freeze on adjustable mortgages of at least five years or until the loan is converted into a fixed-rate mortgage, she said.

If only I had been stupid and gotten an adjustable rate mortgage, I too could be sucking from the government teat! Oh, damn this fiscal responsibility of mine!

Of course, one way of looking at this is that in trying to help people who bought more home than they can afford, we will be fucking over poor people who can’t currently afford a home. By keeping these mortgages afloat, we postpone the housing bubble bursting, keeping home prices high and pricing the less well-to-do out of the market entirely.

I was having a conversation with a certain unnamed liberal acquaintance, and she was bemoaning the plight of the poor people tricked by their evil mortgage lenders into signing bad mortgages. I replied, “And if they had refused to lend those people money, you’d be moaning that the evil mortgage lenders refuse to give mortgages to poor people. You can’t have it both ways.” So first we damn you greedy mortgage underwriters for not giving loans to the unqualified. Then we’ll get you to give the loans, and damn you for being greedy enough to expect those unqualified people to pay you back. Of course, according to the liberal mind, only victims can be virtuous.