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<p>[QUOTE=&quot;Cloudsweeper99, post: 1361797, member: 3011&quot;]I don&#039;t think your former employer would have chosen to voluntarily go out of business if the law was changed. [FYI, I also worked for a mortgage lender in the past]</p><p><br /></p><p>Regarding foreign investors, they have no say and no choice if people stand up to them.&nbsp; Look at Iceland.&nbsp; A lot of threats by the banks, but now they are back lending again.&nbsp; So the real world doesn&#039;t seem to fit your assumptions.</p><p><br /></p><p>People in CA don&#039;t seem to be too inconvenienced by the current mortgage rates.</p><p><br /></p><p><a href="http://www.homes.com/Mortgage-Rates/CA/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.homes.com/Mortgage-Rates/CA/" rel="nofollow">http://www.homes.com/Mortgage-Rates/CA/</a></p><p><br /></p><p>l know you are sincere, but the free market really works if you let it.&nbsp; Dire straight line predictions of disaster rarely occur.</p><p><br /></p><p>Edit: Please keep in mind that what you are proposing is debt servitude, closing schools and hospitals, cuts in public services, no pensions, reductions in food supplies, etc... all so that the banks don&#039;t have to write off loans that should never have been made in the first place.[/QUOTE]</p><p><br /></p>

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