Housing Doom

Liz Ann Sonders, chief investment strategist at Charles Schwab & Co. says in a nutshell:
(1) U.S. has been in recession since December of 2007
(2) People who “bought” homes need to take some of the blame and losses. Somebody who lied on a mortgage application, is upside-down on a mortgage after putting 0-down, and was not able to afford the first payment is by NO MEANS a “homeowner” [so why is heaven's name would they deserve to be bailed out?]

Video and article:

http://finance.yahoo.com/tech-ticker/article/99794/Recession-Now%3A-Its-Deep-and-Its-Going-to-Last-a-Long-Time%2C-Sonders-Says