People are up in arms about home foreclosures around the country. Politicians are saying that the government needs to do more to help people refinance and prevent foreclosures. Ben Bernanke, just the other day, laid out some plans to help distressed homeowners refinance into more affordable, federally insured mortgages through the "Hope for Homeowners" program.

Now get this .. recent data suggests that many of the borrows who have received help refinancing their mortgages earlier this year are re-defaulting on their payments. Aren't you shocked? A top US bank regulator says, "Put simply, it shows that over half of mortgage modifications seemed not to be working after six months."

The data found that after three months, 36% of borrowers who restructured their mortgages re-defaulted. After six months, the rate of people re-defaulting jumped to 53%. And after eight months, almost 60% of restructured mortgages had re-defaulted.

These are people who should never have owned a home in the first place. They aren't programmed to be owners; they're renters through and through. They don't have the sense of responsibility or maturity to deal with the intricacies of home ownership. If these people were in apartments I guarantee you that they would be consistently late on their rent ... begging to the property manager month after month to just give them another week to come up with the money. In the meantime they would make sure they had the latest wireless device and their rug rats had all the proper video games. Priority number one would be a new flat-screen so that they can really get a good look at Entertainment Tonight and the lottery drawings every evening.

Let's just get it over with. Foreclose on these people and send them to some apartment rental agency.

Durned deadbeats.