Wednesday, September 17, 2008

Financial Crisis: Who is to Blame?

Then you have outright ignorant people who lack the intellectual rigor or curiosity to learn the facts for themselves and become informed, educated people, preferring to just find a scape goat because blaming one person is easier than trying to learn about international finance, monetary policy and price to rents ratios...

the real culprit boils down to two groups of people; one of which no politician has the cajones to point out and another group we all love to blame.

The first group of people who are genuinely the ones to blame for the housing crisis we're in are banks and bankers...

The second group deserving the blame is a revolutionary idea I had, also detailed in the book;Would we even have these problems if people did what they said they were going to and PAY BACK THEIR FREAKING LOANS IN THE FIRST PLACE?Has that thought occurred to anyone? That if the people who put their signature on the loan documents, "promissory notes" suggesting they (I don't know) PROMISE to pay the money they borrowed back, then we wouldn't be having this discussion?! You know, like they agreed to return the money they took? Like how it's been done for eons? You pay back what you owe and do what you're going to say?...

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