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No, really...it didn't. Greed did. And the poor weren't the greedy...the bankers were.
But there you conservatives go again; excusing the behavior of the elite class and denigrating the poor.
Especially lame when one considers that you're all a hell of a lot closer financially to the poor than you are to bankers, who wouldn't even give you the time of day.
Saying "lending to the poor" isn't blaming the poor. The banks did lend to people without the means to pay these loans back and that was a *part* of the problem, but the poor were taken advantage of here. They were lied to . I can't blame someone that is told that they can finally get their own home, all you have to do is refinance it when it soars in value and they were being told that so the banker could pocket a big commission.
Sure, the homeowner holds some responsibility BUT they were scammed by the banks. You are supposed to go and trust the person who does this for a living.
The "poor" homebuyers that bought homes above their means because " real estate always goes up " were being greedy too .
Don't think most of them bought a house with the plan to get rich off it ?
No, they simply wanted their own home. The "American Dream". If you go to many of the areas hardest hit by people losing their homes, these are not mega mansions or something. They were just run of the mill everyday homes. Houses people planned to live in for years.
Quote:
Sure it wasn't banker sized greed but still could be viewed as greed .
They were indulging in excess a home they couldn't really afford
Yet they did it anyways .
This is a vast generalization.......sure there were some. You can't blame all for what some did.
BTW...Franklin Raines, huh? Always gotta find a way to sneak a black dude into the mess, eh?
Yeah. It was all his fault.
It was far from all his fault BUT he was a crook working from inside and you can't exclude him simply because he was black. He should have went to prison along with many others..........
Saying "lending to the poor" isn't blaming the poor. The banks did lend to people without the means to pay these loans back and that was a *part* of the problem, but the poor were taken advantage of here. They were lied to . I can't blame someone that is told that they can finally get their own home, all you have to do is refinance it when it soars in value and they were being told that so the banker could pocket a big commission.
Sure, the homeowner holds some responsibility BUT they were scammed by the banks. You are supposed to go and trust the person who does this for a living.
Why do people do this? Clinton signed it. If you want to note other bad players, great, but don't deflect from the guilty.
Are you asking why some use the 'butterfly efflect' to explain complex problems?
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