"There is a fundamental and deplorable breakdown in financial responsibility in America today. I’ve been saying it for a long time now; I’m sick and tired of everyone running to bail out borrowers who simply made irresponsible financial decisions."
- Diana Olick, CNBC, February 2008
It's nice to hear rational thinking from a reporter instead of the usual robotic regurgitation of mindless facts that have no bearing on reality. The same reporters that promoted the housing bubble to it's peak and through the initial decline, are now waking up to reality. It's too late to prevent the damage which is already done but at least they are not mindlessly reporting on government bailout plans which reek of moral hazard.
