The House voted through a $300 billion bill that seeks to stem the rising tide of foreclosures on Wednesday. If given a positive vote by the Senate and a nod from the president, it could be the latest move by the federal government to take charge of the flagging economy.  The the bill will take aim at borrowers who took out loans between 2005 and 2007 and who can prove that they will not be able to continue making their monthly payments. Borrowers are not required to be in default in order to qualify for the program. The bill could help as many as 2 million borrowers stay in their homes and restructure their debt.

The move by congress has not been without its criticisms. Some feel the bill rewards both irresponsible lenders and borrowers while penalizing all taxpayers. Others feel the market is best left to correct itself in order to reflect accurate conditions. Yet Treasury Secretary Henry Paulson has heralded this a crucial turnaround point in our current economic struggles and has wholeheartedly endorsed its passage.

Time will tell what the benefits or drawbacks of the bill are, but one thing is certain now: We must take measures as responsible business people, borrowers, and lenders to prevent such lending overkill in the future.

George Bernard Shaw said, "We learn from history that we learn nothing from history."

I trust we, as an industry and a country, can prove him wrong.