The low quality loans that were issued were heavily driven by the government's desire to promote home ownership. If it wasn't for government intervention these loans would have NEVER been issued.
The Government never put a gun to my head and said take this mortgage once. I took it knowing that I could afford it and that I hadn't went in over my head. The only people that can be blamed for this problem is the bankers who in many cases turned their heads or over looked the ability of these people to pay of their mortgage because they knew it didn't matter. And the individual who knew they couldn't afford their McMansion but went ahead and bought it anyway.
Thats why there are 3 empty houses on my block alone. People were living above there means and to blame the government for trying to help people get a home is a bit retarded if you ask me. Thats their jobs, to help the every day average joe. If the bankers had been doing their part this mess would have never happend. Simple as that.
"If you've got them by the balls their hearts and minds will follow."
Quote by- The Imortal John Wayne, the original BADASS!
