At the foreclosure panel I went to, HuffPo's Ryan Grim, who had been inteviewing people around town, told the story of a 50something guy who was going to lose a house he'd put $100K down on. A lot of the Tales Of Foreclosure Hell have focused on people who bought houses with little money down and who therefore in some sense didn't lose much, but there are a lot of people who did lose/will lose their life savings over this.
I get the occasional angry email because I'm not hopey changey enough, but right now I'm angry at the administration over HAMP. It was their baby, it didn't require Congressional action of any kind, and when it was introduced the usual suspects said it was unlikely to help people. More than that, it's actually hurting people, extracting payments during the extend and pretend period before finally chucking people out.
At this point, walking away for underwater homeowners unable to meet their payments who have been given the run around by the government and their lenders shouldn't simply be seen as a rational economic choice (check state laws, get some advice before doing so), but also as a noble act of civil disobedience. The system failed, and the government failed to help.