The financial crisis in our country is due to bad mortgages.Who is the blame and who should be prosecuted?

Deal Score0

Thought #1
The person who received the loan that he should have known he could not afford

Thought #2
Blame the Mortgage Brokers who knowingly accepted and in many cases created the false information to get the person the loan. (remember the mortgage brokers worked on a percentage. Once the loan went through, they got their cut and went on to the next victim)

Thought #3
Blame the banks because they actually gave the loans based on the Mortgage Broker’s information without checking it out. (Note: If the banks processed the loans in a more timely fashion, there would be no need for a Mortgage Broker)

Thought #4
The Government who made the money so available to the lending institutions with no one overseeing the actions.

Thought #5
Come up with your own view

11 Comments
  1. Reply
    Dame Fanny Haddock
    May 1, 2011 at 2:41 am

    Bush/Blair

    These 2 should be put infront of a firing squad.

  2. Reply
    wilderwriter
    May 1, 2011 at 3:10 am

    Everyone who thought they deserved a better “deal” than what people were traditionally getting are to blame. The Government wasn’t the ones making all that “funny money” available. It was all those creative finance arrangers and (to an unbelievable degree) foreign interests with more money than sense, who believed that the United States was the eternal “land of opportunity.”
    If people could be prosecuted for selfishness and stupidity, most of us would be in jail awaiting our hearings.

  3. Reply
    Vengine P
    May 1, 2011 at 3:13 am

    Blame the Democrats who demanded that loans be made to minorities and illegal immigrants. The majority of the bad loans were to unemployed minorities and undocumented illegal immigrants.

  4. Reply
    trigunmarksman
    May 1, 2011 at 3:56 am

    Thought 3, business made risky moves, and they should be prepared to pay the consequences. They dont need government bail outs, there is no guarantee for profit in this country.

    Thought 1, pay your bills or dont borrow, they also dont deserve government bail outs.

    Thought 5, we bail both undeserving parties because they economy says we should.

  5. Reply
    calmlikeatimebomb
    May 1, 2011 at 4:16 am

    This is what happens with no regulations enforced which caused all of our current woes. I guess the Republican party needs to change there stance and policies on no, regulations, and government involvement to keep up with the 21 century. I also think it is time companies start hiring the best people and not use nepotism and other old wore out ties and traditions to give legs up to top positions.

  6. Reply
    suspendmyaccount
    May 1, 2011 at 5:04 am

    The federal government.

  7. Reply
    Big_E
    May 1, 2011 at 5:47 am

    no one should be prosecuted.
    the Mortgage people made a mistake by handing out loans that were ridiculous. and the people taking out the loans made a mistake by not understanding what they were getting into.

  8. Reply
    scrooge
    May 1, 2011 at 5:54 am

    you bet ye.

  9. Reply
    cbjack
    May 1, 2011 at 6:10 am

    The liberals in government who insisted the banks lend money to people who might not be able to repay it.

    The banks who wanted to lend money to people to make more profit, knowing many of them would not be able to pay it back, but counting on the growing equity due to the growing housing prices.

    The mortgage companies who bought the shaky loans in hopes of making a ton of money due to the growing housing prices.

    The democrats who took over congress and passed spending bills which sunk the ecomomy. And Bush who lacked the balls to veto the spending as long as they allowed him to have a war.

    The banks and big shots should have been allowed to go broke with no government bail out.

  10. Reply
    Randy N
    May 1, 2011 at 6:14 am

    Well, let’s see….I strongly disagree with Dame Fanny Haddock. How can you possibly blame Bush and Blair ? If you check the Congressional Record, it is there in black and white that Bush proposed a bill that would have created an agency to oversee Fannie and Freddie and other GSE’s to prevent exactly what has happened. It was the democrats, led by Chris Dodd and Barney Frank who killed the bill, and who coincidentally, were two off the biggest recipients of Fannie and Freddie money. Hmmm???? By the way, McCain supported that bill . I do, however, pretty much agree with cbjack on most of his analysis, however, I think the majority of the blame can be heaped squarely on the shoulders of Nancy Pelosi and the Democrat Party who, in stark contrast to what they profess, are clearly shown by Congressional Records to be the ones who not only killed the oversight bill, but who pushed through legislation to make the rules even easier for Fannie and Freddie ! Of course, all of the libs will turn a deaf ear and give me thumbs down, because God forbid they go look up the facts and find out their party really is the major culprit in all of this, but the truth is always hard to swallow. Can’t blame the banks because they were just taking what was offered to them, and if it was a sweetheart of a deal, well, it was offered so take it !Most people would. So my knife goes into the back of the Democrat Party, who today are in reality no more than the old communist party in a better set of clothes.—–RN

  11. Reply
    TheLogistician
    May 1, 2011 at 8:09 pm

    Should the US Government (or any government for that matter) “bail out” the residents & businesses in the storm devastated Southern states?

    Leave a reply

    Register New Account
    Reset Password