RAGE!!!!

The Bush administration and major financial institutions are close to agreeing on a plan that would temporarily freeze interest rates on certain troubled subprime home loans, according to people familiar with the negotiations. An accord could reassure investors and strapped homeowners, both of whom are anxious as interest rates on more than two million adjustable mortgages are scheduled to jump over the next two years.

Exactly which borrowers will qualify for the freeze and how long the freeze would last are yet to be determined. Under one scenario, the freeze could run as long as seven years.

Borrowers whose loans are resetting are likely to have a tougher time sidestepping the rising payments by refinancing or selling their homes. Lending standards have tightened and many borrowers can't qualify for refinancing. And falling home prices mean that many borrowers have little or no equity in their homes. Some owe more than their homes are worth.

Well, boo f'ing hoo! Things like this make me so outraged I can hardly see straight. These people (and I mean both the borrowers and the lenders) took huge risks because they thought they were going to make outrageous profits; their idiotic bets didn't pay off. And now those of us who did NOT take those risks (and did not earn any profit) are forced to subsidize the risky decisions and prevent losses to those who took the risks? What the bloody hell?! There are not enough bad words in the English language to describe my outrage! ¡Me cago en todos ellos!