The poor are not the problem, Its the banks.

[thranx]

the2real4mafol said:

sales2099 said:
Ya, banks f'ed up. But this whole recession started with stupid (for lack of a better word) people getting mortgages they had no intention of paying off. Blame on both sides.

You blame on these people, but it's the banks that are stupid. The banks KNEW these people couldn't afford to pay for these mortgages, but they done it anyway, just to make a quick buck. If banks remained regulated (thanks abunch George Bush!), then the banks might have been more responsible and thus prevented this mess. Also, basing economic growth on one area, in this case housing is always a disaster waiting to happen. Even, developed economies must diversify their sectors, then a recession won't be so bad. 

if anything it was the government "coercing" these banks to do these to increase home ownership. You cant blame the banks when they were doing what they were told, like most things wrong in this country in come to the mismanagemnet and bad decisions made by american leadership in congress and the white house.