Meh.......so a few rich people get wiped out on margin calls (yes I know its not equities being purchased but at the end of the day its the same effect).
As long as there IS moral hazard involved and the tax payers aren't needing to bail them out then I'm all for it as they are pumping up my 401k and I can chose when to exit my 401k as I'm not the one that is leveraged.
Just another symptom of too much money sloshing around looking for a home.
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