| axumblade said: I blame it on a lot of Americans don't feel they need to take responsibility and be held accountable for what they have done. |
Yes, especially those at the tops. Why don't we start with those bank CEOs and our own policy makers who put greed before the common sense.
We seens this happen before in the 80's during Reagan when we let Saving & Loan deregulated which let to huge banking meltdown result in billions of dollars bailout by tax payers. This is no difference just in a larger scale. California deregulated electricity back in the 90's and look what happen , same thing, disaster.
I am all for free market economy and less government but sometimes there are certain things that need to be regulated. When it come to money never underestimate the power of greed and hope that people at the top will do "the right thing".
Yes, the blame is on those who are championing all the non-sensical deregulations and many of those are Republicans.
To those that want to the blame on homeowners who borrow more than they suppose to, well yes they are to blame but really if someone give you "free money" would you have said no? People judgement became clouded and many of those have little or no knoledge of how financial work. Some can barely balance their own checkbooks. But yet government allow all these "investment loan" company to go out and target these people to lend money to with little or no oversight. Are they to blame , yes they are part of the problems, but the larger problems was all the lack in rule and regulations that were in place to prevent this type of lending in the first place.
