We should not bail out the banks or mortgage companies with taxpayers money. It's not fair to those that live within their means. Take a look around every day we pay more and more taxes to pay for government programs ie flood insurance backing to rebuild in costal and flood plains, health care, and pension bailouts. If this continues will soon be like Europe and paying double for the BMW's
Now I do agree that it's in the bank's best interest to work with the consumers to restructure some loans, but that's a private business relationship and the government should not be a party to it.