I get what you are saying Grampa....but I disagree.
We all knew this was happening. You can't tell me that a person whose household income was $85,000 that they didn't know they shouldn't be buying a $550,000 McMansion with no money down.
The entire system was absolutely geared for catastrophic failure and everyone involved knew it - including the buyers.
Pain must be shared. And I'll be damned if I want $billions more to bailout Mr. and Mrs. "I want it all now!" driving around in their little BMW's and sipping Starbucks coffee and whining because they overbought.
Sorry.
We all knew this was happening. You can't tell me that a person whose household income was $85,000 that they didn't know they shouldn't be buying a $550,000 McMansion with no money down.
The entire system was absolutely geared for catastrophic failure and everyone involved knew it - including the buyers.
Pain must be shared. And I'll be damned if I want $billions more to bailout Mr. and Mrs. "I want it all now!" driving around in their little BMW's and sipping Starbucks coffee and whining because they overbought.
Sorry.