Fed should toss lifeline to little guy

Since Federal Reserve Chairman Ben S. Bernanke is willing to bail out Bear Stearns, help Fannie Mae and Freddie Mac and now plans to help out banks with their financial problems, why haven’t he and the Fed helped the subprime and other mortgage holders who can’t make their monthly payments? (“Federal regulators prepare to tighten mortgage rules,” July 9)

Wouldn’t it have been wiser to refinance all those mortgages instead of foreclosing on the homes? It appears the credit crisis was caused by investment banks and commercial banks selling bundled loans as securities, as well as other risky financial actions. They were gambling with their investors’ money as well as the mortgage holders’ money.

Carol Nickels

Narberth, Pa.