So how do we grow the economy?

[60sfemi]

Originally Posted by InformedConsent

The bulk of that was the government's own doing via the CRA and the GSEs:
Origins of an American Kleptocracy | zero hedge

Regarding Countrywide, for example:
Case Study: Countrywide Home Loans, Inc.
published by Fannie Mae Foundation, 2000
http://fcic-static.law.stanford.edu/...%20Markets.pdf

This info was already covered in this thread, so I'm not sure why you aren't aware of the government's culpability in this.

Since most of this thread is over my "pay grade", although I love reading all of your opinions from you guys, I can only follow a certain amount of it......I am just the ordinary reasonable average voice, that is speaking ENTIRELY from experience and having lived through this crisis (ongoing), and having read the papers, internet, listened to the pundits etc the way normal people get their info. I also listen to the economist as best as I can and watched a few 60 minutes type shows re: the housing crisis and was appalled at how duped we were by both the industry as well as the government. Like I said before, no one is innocent in this deal by a long shot. I'm not "protecting" the government in any way.

As is obvious on this particular thread, you walking talking economist types and/or brainiacs....delve into the issue at a different level than the average consumer and it is you self-same brainiac types that will be arguing this for years and years at great detail. But I, like any typical consumer that found themselves in the mist of the housing crisis through no fault of our owns are simply explaining the facts of life....and that whatever the end result will be on this horrible crisis, it affects people on a very deep level in this country. Our homes were our lives...they were our egos, they were our families, they were what we all worked so hard to afford and we expected those homes to be a large part of our rretirement incomes, so that we could live without help from anyone as we aged, just as we had lived our lives.

You guys carry on with your "higher learning" and your individual brilliance, you are all amazing at it! But don't forget....there is a human side to this mess and pointing fingers/blame/exchanging articles/arguing economic points etc. doesn't really matter to the family that lost their home, their job, their car and even had to lose their pets. I'm one of the lucky ones that haven't lost YET....but who knows. If you guys are as brilliant as I think you are.....find a way to fix the problem, not just argue the problem.

[newonecoming2]

:-)