Quote:
Originally Posted by Army_of_One  Do you not feel that people should recognize that they can't afford a house or not Wordy? I understand that the loan companies have some responsibility but don't you think the people have a little also? | as I've said before, there is enough blame to go around on this one you just seem to keep pointing to the borrowers as the problem and forgetting the companies.
Thier greed led them to prey on people who might be easily persuaded to make bad choices.
The figgured they could get these people to take these loans and then when the rates adjusted up if they couldn't make the payment the bank would take the house, flip it again and make more profit.
They didn't count on the Bush recession that would keep people from buying houses and they are stuck with houses that aren't bringing in any money.
The regulation woul dhave kept them from making these loans in the first place but the mortgage lobbyists made sure it was killed.
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The wrong war fought for lies and deception, war without end, predatory lenders, homes taken, current recession, looming "depression," social security gutted, civil rights violated, and so much more... courtesy of the Republican party.
President Obama
USSC Justice Clinton
It's just time to get it done. |