The breakthrough came with the idea to freeze ARM rates so that borrowers will not be subjected to the terms of the agreements that they voluntarily signed. Combine that innovative thinking with the ongoing efforts to save Wall Street from its own irresponsible actions. It seems that the U.S. government and the federal reserve will finally succeed in realizing a foundational tenet of liberal politics – change the laws and the way financial markets work so that we can eliminate personal responsibility and individual accountability once and for all.

Only one thing can solve the present financial crisis we find ourselves in, and that is to let the chips fall where they may. Let the free markets do their thing, let the accountability fall where it lies…at the feet of those who have made irresponsible financial decisions that they must be held accountable for. Let all involved learn their lessons, and learn that decisions have consequences, and that risk and reward go hand in hand.

We will never solve problems by ignoring them, failing to account for them or by trying to avoid the consequences of our actions. Borrowers who borrowed more than they could afford should learn that there is a price to be paid for such irresponsibility. Lenders who make loans to people who can’t afford those loans need to understand that there are consequences for such irresponsible business practices. Investors seeking high returns need to understand that high risk follows high reward. All investments look good on paper, but reality can be a very different thing.