How many people, aside from family members and loan sharks, make loans that they know cannot be repaid?
But once again, it’s all about responsible borrowing, on the part of both the debtor and lender. On that we agree.
Argent Mortgage of Nevada as per the link appears to have been one of them, although they may have had the expectation that We The People would make good on any bad loans via policies set by Freddie and Fannie. Which gets us back to just one reason as to why the Tea Party anger is rather reasonable.
Loan sharks, btw, expect the loans to be repaid and with interest.