I hear ya
The banks were basically ordered to loan the money , theres a solid argument there. The community reinvestment act, started with Jimmy C, and signed by Clinton forced banks to de-regulate /re-regulate to help the “down trodden” and those left behind, an ability to buy. I am sure it was with good intention. Bush did little to stop it, though he addressed it and he failed. Blame due there.
The brokers, both Real Estate and Bank, along with the rest of the industry saw what was happening and laughed their way to the bank, but ULTIMATE and FINAL responsability falls on those who did the dead and bought when they shouldnt have, and often lied to get what they wanted.
We have addressed and talked about that for a year, poorly, but it was brought to light and blamed for what brought down the system.
The bad mortgages were bundled and bought and sold carelessly through banks and corporations like Lehman Bros… They are to blame for also turning a blind eye and lying.
The bottom line is the government was the enabler. The government should not be in a posisition to be that. If the country kept to its Capitalist nature, with regulations put in place to HALT what they actually enabled, then this wouldnt have happened like this.
The new wave of forclosures is those that lost their job. I see this daily now. While 6 months ago it was the cheaters losing their homes, now its good Americans that can’t keep the wage income.
The government is not the answer. Hard work, time and capitalism is. The current administration does not reward this.