Mar
6
Financial Crisis who’s fault?
Filed Under Elections
Todd O asked:
The root cause of the issue is people taking on more credit then they could repay. Mortgages and consumer credit in excess. Companies should have protected themselves and not made so many risky loans but shouldn’t people be more responsible and live beyond their means?
Blue… Did companies hold a gun to peoples’ heads and force them to buy homes, cars etc.. they could not afford? If companies denied people loans you would likely complain about that too, right?
People should not live beyond their means. (you knew what I meant
)
EMORY
The root cause of the issue is people taking on more credit then they could repay. Mortgages and consumer credit in excess. Companies should have protected themselves and not made so many risky loans but shouldn’t people be more responsible and live beyond their means?
Blue… Did companies hold a gun to peoples’ heads and force them to buy homes, cars etc.. they could not afford? If companies denied people loans you would likely complain about that too, right?
People should not live beyond their means. (you knew what I meant
)EMORY
Comments
11 Responses to “Financial Crisis who’s fault?”
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VICTOR
Republicans fault because of deregulation!
VICENTE
Most of the bad loans went to minorities, so there’s your answer. They wanted the bling, bling, It cost more to be white, if you don’t believe me just look at the price difference in black and white neighborhoods
JEROME
yes ..and the Famous ” no Doc Mortgages ” that the Dem’s were told not to put in but they would not listen.
ALDO
I feel it is the irresponsibility of these companies greedily giving loans to people who weren’t qualified and could not afford it. The terrible thing is that they used our tax dollars to bail out companies that drove themselves into the ground. It was their own fault!
DARRELL
Get ready for the blame Bush crowd….idiots!
GRADY
Bush should of had his administration focus more on the housing bubble before the bubble got too big.
Congress should of stepped before things got this bad.
And all those investment bankers should of acted like decent human beings and not help create this crisis.
REID
THIS IS NOT TRUE AT ALL . THESES COMPANIES WERE GREEDY THINKING THAT THE MORE ACCOUNTS THE MORE MONEY AND PROFIT . It was the companies that hid their shady deals and they deliberately did not explain oR hid details .
STOP BLAMING THE AMERICAN PEOPLE .
DEVIN
Well Todd:
I can’t agree with you that people should live beyond their means. This is hardly responsible. The opposite is true.
But I will agree that people taking on more credit than they can afford is not wise.
IRA
Wall Street greed and non-transparent accounting policies coupled with a lack of oversight. Many managers acted carelessly and irresponsible.
LINWOOD
Greedy businessmen.
And deregulation didn’t cause it anymore than Obama being #2 on Freddy and Fannies contribution list caused it.
Oh yeah they were almost all Democrats on that list he was on.
ALVARO
It was the lenders fault for taking on to many risky loans and taking on more loans than they had income. Failure every time, Bush tried to get a bill passed so they couldn’t loan more than they had coming in,but the Dems voted it down.