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Financial hardship - who pays the price?.?
Why do all the ordinary people in the world have to suffer financial hardship due to the American sub-prime fiasco, while all those that caused it still get paid their salaries and bonus', keep their homes and get off scott free with causing a major world wide disaster?.
What price JUSTICE or DEMOCRACY for the real people?.
1 Answer
- sugarplum1960Lv 51 decade agoFavorite Answer
Who pays the price? All the people who are facing financial hardships. Not all of the ones who caused it will get off scott free but you wont see them suffering like most of us will.
You have to remember that some of these people who took out the loans, took them out knowing they had a balloon payment coming in. If I told you that you could live in this house and pay small payments for 5 years but after that time you would have a huge balloon payment due would you still buy it?
That is what these people did. We have become accustomed to buy what we want pay as we can. Most americans are swimming in credit card debt, just to survive. Credit card companies send out pre approved applications all the time. People know when they go to the store how much money they have but instead of paying cash they pull out the credit cards to pay with.
So who is really to blame, the credit card company or the person spending and living beyond their means?
