Perhaps with the popular reaction to Rick Santelli’s ‘tea party’, in which the CNBC commentator elicited cheers for saying that the thrifty should not have to subsdize foolish borrowers and banks, President Obama took pains in his State of the Union address to argue that his foreclosure plan will not benefit the spendthrift and irresponsible. “It’s a plan that won’t help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will…

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