“Mortgage Madness: Washington’s Bailout Baloney” (Michelle Malkin, PostOpinion, Dec. 5) intentionally misconstrues the crisis in the subprime-mortgage market as one caused by irresponsible homeowners.

That notion is an insult to the 1.4 million individuals who face foreclosure, many of whom were blindsided by predatory loan terms and deceptive sales practices.

Belatedly acknowledging the crisis, the Bush administration has called for a temporary rate freeze for about 12 percent of sub-prime borrowers – those current on their introductory payments but who will not be able to afford payments once their interest rates reset.

This solution ignores borrowers whose loans have already reset, who have not been able to sell or refinance in a tighter credit market and who are now facing imminent foreclosure.

Sen. Hillary Rodham Clinton‘s more ambitious proposal would expand interest relief to these homeowners and impose a 90-day moratorium on sub-prime foreclosures.

Clinton’s solution is not simply a bailout; it’s a responsible solution for everyone who will be affected if property values plummet, credit dries up and Wall Street investments tank.

State Sen. Jeff Klein

The Bronx