"But speculation is inherent in any transaction involving debt. When debt is assumed, we speculate that we will be able to meet the terms and the eventual retirement of the loan. We therefore speculate as to the future status of our income, which consists of factors such as health, employment, and marital status. Without speculation, money would never be lent, and few houses would be built."
"Yet this or any other government-guarantee plan relies exactly on the economic forces that posturing politicians publicly abhor. It forces all of us to put our faith in those who failed with their own money to honor the commitments made with the money of strangers. If Congress wants to end speculation, then I would suggest beginning with the deal makers at the Federal Reserve."
Speculation and the Housing Bailout - Mark A. Pribonic - Mises Institute