Saturday 3 December 2016

Homeowners took gambles

Published 14/04/2010 | 08:28

THE suggestion by some sectors of public opinion that there should be a bailout for homeowners struggling to repay mortgages is ludicrous.

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No borrower was forced to take out 110pc mortgages or car loans. These were their decisions and their gambles – they cannot blame everyone else.

If financial institutions are to be punished for reckless lending, then homeowners who partook in reckless borrowing must also face their responsibilities.

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