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Re: OT: McCains Howard Dean Moment.
Why isn't anyone angry at the morons
> that took out loans they knew they couldn't pay back?
That's a tough one. For one thing, a lot of people probably thought
they could pay back the loans--or at least hoped they could. When
they discovered (later) that their interest rate skyrocketed, then
they could no longer afford to pay. Second, I don't necessarily blame
the consumers--at least not all the time. It's pretty tough to turn
down the opportunity to buy a home (or take some other large loan) if
someone is going to offer you the money. I blame the lenders, in
other words. Another example: I have so many credit cards (and I get
solicitations every week for more) with a total credit line of an
obscene amount of money. Why in the world not just one bank--but
several--would extend me credit lines of 20K or more, I have no idea.
But they do. I could get in serious financial trouble very easily.
Would I be to blame, or do the banks bear some responsibility as well?
Jeff