lilymom24 wrote:
Are you trying to say that Bush created the economic crisis? He didn't. The subprime loan problems started back when Clinton was President and the economomy issues have always been with us and its only been a matter of time for it to break down.
Deregulation brought us into the crises, and who was for that?
I don't think it is accurate to blame the subprime markets, when the lenders could have worked with people instead of simply foreclosing on them. You don't get
any pay back when you kick someone out of the home they are trying to pay for.
There was a lot of GREED running mortgages as companies anticipated re-selling the same homes to people who had already been living in them, and getting more profits through more closing costs and higher interest rates!!Did no one see what the mortgage brokers were up to? Don't blame people who were convinced to purchase homes with ARM's. They were assured, cajoled, and promised that they could refinance easily!
The wealthy looking for more wealth are the people to blame!