Reply #29: the article is pretty much bald speculation

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so it is hard to comment on it one way or the other. That said, a blanket policy of writing off below water mortgages strikes me as quite unfair to those who were responsible and even more so to those who rent. Ideally, a case by case basis would be used here but the banks clearly refuse to do anything like that, so we are left with a choice of nothing or a blanket solution. Between those, I honestly think a blanket solution may be needed.