If there isn't going to be any sort of changes happening to prevent this from happening again in the future, who cares whose fault it is? Is there some sort of magical scoreboard one takes confort in knowing they are right, even as they watch their entire life savings go up in smoke, and you are left at risk of losing your home, and either end up homeless or on welfare (welfare preventing you from being homeless)? On top of this, anyone care to look at the original subject I posted about, how the GOP wants to ban the words "Wall Street" "Derivatives" and "Shadow Banking" from a report on this?
How about there be a better form of existence, rather than trying to spin to say you are "right". If things stink, and you are right about them stinking, they still stink. The issue is to deal with the stink. Does it matter what causes the stink, unless you are going to do something about it?
Reality:
* The U.S government did cheerleader too much for home ownership.
* The Bush administration did make lending standards even MORE lax than the Clinton administration.
* Fannie and Freddie do have blame in this also.
* Wall Street overextended itself in derivatives connected to this. Did anyone hold a gun to their head and do it? No they didn't. I also think it is absurd to try to defend people who got too greedy, trying to keep up with the Joneses.
* People are suffering as a result of this.
Want to go on? Anyone care, among the list above, pick out which one matters the MOST now? How about people suffering as a result of that? And how about having more than, "Golly gee, in normal times, this wouldn't of happened!" Well, we aren't in normal times now.
