I read story after story of banks and mortgage companies taking hard losses with excessive mortgage foreclosures. Many reports state that most of the foreclosured homes were not owner occupied, they were some sort of investment properties.
Such persons who borrowed money while knowing they really could not make payments after ARM's reset, I have little simpathy for. I do have simpathy for owner occupant victims, however these investors should have understand their risk and have hurt the entire country by causing investors to tighten their belts.
We punished Enron executives. If current laws are not strong enough to punish credit fraud on for Real Estate Investors, we need them. I own my home and four investment properties.