Fannie Mae’s initial attempts to restore delinquent homeowners to on-time payments with unsecured second loans failed 41 percent of the time.
The program to loan more money to bankrupt people has only been running for 5 months and it already has a 41% failure rate. Who could have guessed?
Einstein once said that the stupidity of humans was one of the only things that he was sure was infinite. I am not generally willing to ascribe the infinite to mortals, but sometimes I am tempted to agree with him. (h/t CR)