[brewer12345]

I agree that supervision of most of the big subprime shops was essentially non-existant. Regulated depository institutions (banks) were subject to pretty strict oversight, which is why most of the lenders blowing up are not banks. So clearly there should be better oversight.

But there is a basic level of personal resposibility required of adult Merkins. That includes understanding the terms of any financing agreements you enter into when you sign on the dotted line. So as far as I am concerned, get those short sales and foreclosure auctions going.