You would think the mortgage lenders had learned a lesson when the housing market plummeted in the early 1990s ["Yes, Housing Will Get Worse. But How Bad?" September 3].
Creative financing has gone out of control with individuals who have no business buying a house at prices above their means receiving loans from subprime lenders who try to work out figures for these home buyers. I don't know how deeply the irresponsibility will rupture our economy, but one thing is certain: People are being hurt, and it is not going to be over for a while. Our federal government is suggesting some band-aid approaches to bail out these lenders, but this is not the answer.