The Times’ Joe Nocera has a decent column but I want to quibble with this part:
…readers have reacted angrily to my suggestion that we find ways to keep people from being evicted from their homes. It is not fair, they reply, that their neighbors who were greedy during the bubble should get a taxpayer bailout while those who weren’t get nothing. Even when I point out that foreclosures hurt everyone’s property values, they are unmoved. The seeming injustice overpowers their rational selves. And you know what? It is unjust. But there is a larger good at stake: the economic health of the country.
I think Nocera here is overlooking the scandal that was mortgage lending in America during the bubble. Sure, lots of people knew what they were getting into, but lots of people didn’t, too.