Chris Dodd proposes massive government bailout of housing speculators

All those speculators that created a housing bubble paying prices they couldn't afford with no-money-down, adjustable-rate loans?

Don't worry, the Dems will bail them out.

U.S. lawmakers will have to consider providing aid to about 2.2 million subprime mortgage borrowers who are at risk of defaulting and losing their homes, Senate Banking Committee Chairman Christopher Dodd said today.

``The impact of losing 2.2 million homes I suspect will be in a lot of areas of our cities and towns that are already pretty hard hit, so we clearly want to look at that and legislate,'' Dodd, a Democrat from Connecticut, told reporters in Washington after a speech to the National League of Cities.

And the responsible people who didn't use creative financing to speculate on wildly overvalued houses? They'll be left holding the bag.