In article >,
"Kswck" > wrote:

> <sf> wrote in message ...
> > On Fri, 1 Aug 2008 15:07:37 -0400, "Kswck" >
> > wrote:
> >
> >>
> >>"Goomba" > wrote in message
> ...
> >>> blake murphy wrote:
> >>> foreclosures
> >>>> have skyrocketed.
> >> yep, it's all in our heads...
> >>>>
> >>>> blake
> >>>
> >>> What *exactly* did Bush have to do with mortgages again? The way I see
> >>> it
> >>> half the people having mortgage problems were people who overbought
> >>> assuming they were going to make a killing when they flipped the house.
> >>> Housing prices readjusted (look at California who led that trend) in
> >>> many
> >>> areas because they were just insanely overpriced. There were also
> >>> certainly mortgage lenders who got sloppy and allowed unqualified people
> >>> buy more home they couldn't afford which I can find fault with. Yet
> >>> somehow I don't see how Bush (or Clinton before) as being responsible?
> >>
> >>Because Libs want to have someone to blame for everything from the
> >>mortgage
> >>crisis to global warming.
> >>These people who are defaulting on their mortgages are stupid for not
> >>figuring things out themselves, rather than listening to someone else.
> >>If your mortgage payment is 85% of your monthly income, then SOMETHING is
> >>not getting paid that month. Doesn't take a rocket scientist to figure
> >>that
> >>one out.
> >>Read the fine print-does Balloon Mortgage mean anything to you idiots?
> >>So someone spending more money on a home than they can afford-can't be
> >>their
> >>fault-it's Bush's fault.
> >>
> >
> > So, it's ok for institutions to engage in predatory lending practices.
> >
> >
> >
>
> Let the buyer beware. Take some resonsibility for your own lives.

Unless you are Big Business. The US government bailed out Bear Stearns
to the tune of US$30 billion. They took very little responsibility for
their actions.

--
Dan Abel
Petaluma, California USA