Good Bank! Fed Pressuring It To Make Risky Loans Now!

[Annie]

What about the people getting loans on their homes or to buy their homes knowing that they will likely be unable to ever pay it off? You forget this is more than just a few bad choices by a few people. Taking the blame away from these people is like saying it's your fault your are sick and not the flu virus.

But you said,

... EVERYONE is to blame because either we made bad choices and took advantage of a flaw in the system (those who lived beyond their means) or we let it happen without protesting until it was too late.

So now you're saying it's the people who took the loan's fault? Agreed. However, if the banks were practicing what had been the traditional methods of approval, those people would have been turned down. The banks would not have changed their methods, the risks were too great, if not pressured by the Fed to do so. As the OP said, it's still going on with 'well run banks'....

What is different between my two posts? I never said only they are to blame, just that you can't ignore their impact. As well as the impact we all had by not stopping it or at least finding a way to slow it sooner.

I don't know about you, but last time I checked I voted for the people that were supposed to represent me about such things. It's why it's a Republic, not a direct democracy. It's the reason we are supposed to get up and go to work, not deal with wonk issues. *shrug*

 

[garyd]

What you don't know about you are not in position to ask anyone to fix. The overwhelming majority of people didn't game the system. Over 90% in fact. Most of the population of this country has had a hate on for the banks since the Great Depression. Who was going to believe the Banks if they complained about this crap and many of them have.