Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

penydred asked in Politics & GovernmentPolitics · 1 decade ago

Why are people willing to believe that the reason we are in this mess is because of people who didn't deserve.?

to get a mortgage....what about the scammers who purchased more and more properties to "flip" them and live large...

or the people who used their homes as ATMS or

the greedy corporate system of the "free market as long as we don't lose our money"

Update:

wow tom...I want to live in the world you do...very neat and tidy

Update 2:

mark..if you think billion upon billions of bad debt is racked up by low income borrowers you are a bigger idiot than i can imagine even existing

Update 3:

mark....I am not complaining i am constantly amazed at how stupid the general public is and how powerful rhetoric is when fed to soft minds

Update 4:

siddhart....I love you thanks....

Update 5:

hey free or fee and heddon....

you regurgitate rhetoric like pros....you must practice

Update 6:

45cal.....Clinton is responsible for continuing the deregulation started by Reagan as well as selling the USA out through lucrative trade agreements

also pin the free market system on his admin and the perfection of the free market feudal system on bush and his cronies

Update 7:

romare...what about democrats...they were part of the deregulation

11 Answers

Relevance
  • Anonymous
    1 decade ago
    Favorite Answer

    exactly, and our government expects us to believe that this world wide economic crisis is because a few million americans got screwed with bad mortgages. The huge bank bailouts are covering bad loans procured by foreign investors, bad mortgages overseas, bad financing to businesses in developing nations. But they want us to believe that trillions of dollars in losses is because of a relatively small number of bad American mortgages. I don't believe that for one second. The hard working Americans can not be blamed for this. Even the people who got into mortgages they couldn't afford can not be blamed. The bankers and lenders mislead people, with fine print and irresponsible sales techniques. Credit card companies force people to default by raising interest rates, fees etc. Instead of freezing the credit line, and working with the debtor to pay off the balance. No compassion for their fellow Americans.

  • 1 decade ago

    The people flipping houses are not he ones complaining, it is the ones who bough more house than they can afford or did not bother to read that small print in the contract. Or see taking on a house debt is a big risk, jobs are not a guarantee, it is a risk and if the loss of a job is not factored into that risk of taking on debt it is stupidity.

  • Anonymous
    1 decade ago

    i dont know what your point is.... If you cant afford a house, dont buy one. Now these banks are taking billions in bailouts because people took out loans they knew they couldnt pay back. The people who flip houses are just as bad. I dont know what you mean by greedy corporate systems though...... we should never have forced banks to give loans to lower income families (see community reinvestment act) and we shouldnt have to bail them out. But since you kinda forced them to do it, your responsible for paying them back. Stop complaining.

  • 1 decade ago

    Because it is just a fact that Barney Franks and Chris Dodd forced Fannie and Freddy to give unsecured loans to those that had no income or proof of being able to pay the loan back.

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    Well lets see 92 percent of the people are still employed and 92 percent still have their home.

    That should say something.

    The other ones that lost their homes must not have been employed at the time they got the loan.

  • Anonymous
    1 decade ago

    Because Rush tells them to feel their righteous anger. Also, in their minds that means it can never happen to them.

    Republicans live in the State of Denial.

  • Anonymous
    1 decade ago

    It is funny, yes, that the poor are capable of bringing down the all powerful United States, republican opinions amaze me everyday.

  • 1 decade ago

    Clinton lowered the bars and let all have loans> so but the blame on his watch>

  • 1 decade ago

    A lot of greedy people and do gooders too, caused this mess!

  • ?
    Lv 7
    1 decade ago

    all of the above is the reason.

    greed, greed, and livin too large.

Still have questions? Get your answers by asking now.