Subprime Suspects

Predatory wolf mortgage lenders preying on sheep home buyers are to blame for this mortgage mess. I have little sympathy for them other than the fact that letting the lenders fail affects all of us on some level.

I agree that it is incorrect (and quite intentional) to blame poor people and minorities specifically for the aggregate situation. But we should also not infantilize them. If I read one more story of the poor and/or minority person who lost his or her house after owning it outright, or having a comfortable monthly payment, because some big, bad mortgage broker convinced them to take oodles of cash out of the place I'm gong to vomit.

http://my.barackobama.com/keatingvideo

Not that I have all the answers but I think everyone here is missing the boat. We live in a country that people think they are entitled to more than they actually are. That part sees no socioeconomic difference. Everyone wanting what the other guys has but not willing to work for it. People are maxed out on credit cards and equity loans. Not to survive but to try and keep up.You have people working at dairy mart living in 400k homes.

Hey whs, did you actually read the article? Or do you think you've got it all figured out yourself? Please let the facts shape your conclusions, not the other way around. I know it's complicated for you people who like simple answers, particularly when they reinforce your ideology, but I bet you can do it if you try.

The problem is not with the poor people, the problem is with legislation that mandated loaning $ to people with bad credit who could not repay their loans. Thanks to Jimmy Carter's CRA and Bill Clinton mandating these loans. And congress, Chris Dodd, Barney Franks, SEC's Chris Dod and others who were anti-regulatation of Fannie Mae and Freddie Mac while the GSE's made large congritutions to Dodd, Franks, and Obama. They all should be investigated for FRAUD!

The problem is not with the poor people, the problem is with legislation that mandated loaning $ to people with bad credit who could not repay their loans. Thanks to Jimmy Carter's CRA and Bill Clinton mandating these loans. And congress, Chris Dodd, Barney Franks, SEC's Chris Dod and others who were anti-regulatation of Fannie Mae and Freddie Mac while the GSE's made large congritutions to Dodd, Franks, and Obama. They all should be investigated for FRAUD!

News Flash thanks to the leadership that has been in place for the last eight years America is already forever changed. Wake up even your CONSERVATIVE candidate is calling for CHANGE. It's his new platform the maverick that can reform Washington and fix the mess that his buddies left behind.

News Flash thanks to the leadership that has been in place for the last eight years America is already forever changed. Wake up even your CONSERVATIVE candidate is calling for CHANGE. It's his new platform the maverick that can reform Washington and fix the mess that his buddies left behind.

VERY IMPORTANT MESSAGE
The upcoming election is the most critical election in the history of our nation. The very future of our nation???s foundation is at stake. Every person will be affected. If the liberals win, then our foundation will no longer be based on traditional morality. It will gradually but assuredly be based on an ever shifting, ever moving foundation. If the liberals win, the damage can???t be stopped with elections two, four or forty years from now. America will forever be changed. We will keep seeing a gradual and growing hostility toward people of faith. The morals of our nation will continue to decline. Our children and grandchildren will pay the price.

Very nice Marxist rant there Gross. He'd be happy....maybe you're related ;-)

The race card. Really?!!! Come on. Weak!

I can just see the arian nation right sitting there saying, "let's see if we can blame this on the minorities." That just makes tons of sense. Hope you are reading the sarcasm, because I am laying it on pretty thick. Do you really think people think like that?!! or are you just trying to get a read?

Being part of the right, I am not blaming the minorities. We are all culpable. I am blaming the morons in this country who thought property value could never go down, despite outpacing incomes significantly, and lent huge amounts of money based on that (a strategy wholly based on a bailout, whether from property that doesn't devalue or from now the government). I am also blaming the "entitlement" morons who despite being unable to balance a $1 dollar budget in the dollar store and who despite a long history of not working in school, at their jobs, and on their careers feel they are entitled to a mcMansion, an SUV, flat screen tvs, and jewelry and feel the hard working folks should make sure they have it. I am blaming the rest of us who let it go unchecked for so long and didn't tell our friends, neighbors, family, etc. to beware.

At long last the age of entitlement has received its just dues.

This crash has been a long time coming, going back 20+ years now. It's like an obese person. It didn't just happen overnight or because no one was minding the store. It happened over years, and as a result of not exercising (in the case of the economy the brain or a conscience) and eating bad (sucking down the sugar of the ever prevelant and invasive media selling stories of growth and wealth with catch phrases like "biggest run up ever" and masked truths all to make a dime). And now the obese person has had a heart attack, and while not dead, is in for an expensive surgery (losses in the millions and financial scars), a long recovery, and fundamental lifestyle changes (how we consume media, a financial education not provided in schools, and what we feel is just and right) to survive.

So, uninformed, opinionated crap, like this article, doesn't help the discussion or the resolution it simply is a last gasp attempt to make even more money off an already sick situation, like the insurance guy sitting on your bed telling you his company isn't going to pay, and hes just doing his job. Let's start talking solutions and quit playing the blame game, left, right, black, yellow, white, red, green. And let's please teach people how to muddle through the media garbage, since media doesn't seem to want to regulate itself either for the good of the whole.

No one with intelligence is blaming the poor. It all goes back to LOWERING THE STANDARDS on lending and giving funds to those who were not in a position to pay it back, whether rich or poor. Without Fannie and Freddie creating a secondary market in which garbage loans were bought from lenders most of this would not have occured. A private firm would not have bought these loans from lenders who had no standards. These lenders would have simply been dealt with by the market place as they would not have been able to replenish capital and went bankrupt. Only firms that gave heathly loans would have found a buyer. Instead Fannie and Freddie as GSE's bought anything, no questions asked which aloud the bad mortgage companies to replenish capital and make more and more bad loans. If you could give a loan to a dog and sell that loan to Fannie no questions asked within a couple of weeks and make your nice cut without worrying if that dog ever makes one payment, would you? Maybe most wouldn't, but a good number would because it is just to easy to make quick money. How anyone doesn't see the Democrats and their policy of lowering standard's connection to all of this I have no words for your ignorance. Where does the majority of the blame lie? With stupid Americans who bought more then they could afford. Secondly greedy mortgage lenders who participated in predatory lending. There is no doubt though that there have always been stupid americans who would buy too much and greedy lenders who would lend too much but without the Govs (pushed by Dems) policy of allowing Fannie and Freddie to completely do away with any standards this could not have occurred. My main question is why if the republicans had control over most the last decade, why were they not able to push the necessary oversight/regulations through? I know they tried and Dems got in the way, but in the end it is mostly their fault because they had control and didn't get what needed to be done accomplished. All of our leaders are idiots. I am voting Barack, but that doesn't mean I have to be blind to dumb Dem policies. Everyone stop all the stupid partisanship and mind your finances. If we did that in the first place no business or government policy could have caused this. This article is mildly informative. I expect more from Newsweek.

Yes, no one is blaming the poor. It all goes back to LOWERING THE STANDARDS on lending and giving funds to those who were not in a position to pay it back, whether rich or poor. Without Fannie and Freddie creating a secondary market in which garbage loans were bought from lenders most of this would not have occured. No private firm would have bought these loans from lenders with no standards, these lenders would have simply been dealt with by the market place as they would not have been able to replenish capital and went bankrupt. Instead Fannie and Freddie bought anything, no questions asked which aloud the bad mortgage companies to replenish capital and make more and more bad loans. How anyone doesn't see the Democrats connection to this Fannie and Freddie policy I do not know. Where does the majority of the blame lie? With stupid Americans who bought more then they could afford. Secondly greedy mortgage lenders who participated in predatory lending. There is no doubt though that there have always been stupid americans who would buy too much and greedy lenders who would lend too much but without the Govs (pushed by Dems) policy of allowing Fannie and Freddie to completely do away with any standards this could not have occurred. My main question is why if the republicans had control over most the last decade, why were they not able to push the necessary oversight/regulations through? I know they tried and Dems got in the way, but in the end it is mostly their fault because they had control and didn't get what needed to be done accomplished. All of our leaders are idiots. I am voting Barack, but that doesn't mean I have to be blind to dumb Dem policies. Everyone stop all the stupid partisanship and mind your finances. If we did that in the first place no business or government policy could have caused this.

It is up to the Media and American Citizens to find out if Obama Ever sent a letter about the Bailout. There is evidence according to C-Span that he DID NOT!!!!!!!!!!!!!!!

Finally Good news! You cant stop the truth!

After much protesting - Hulu.com brought back the Saturday Night Live Congress Bailout skit back. CHECK IT OUT!!!!!!!!!!!!

http://www.hulu.com/watch/38041/saturday-night-live-washington-approves-the-bailout#s-p1-st-i1

Sadly it was not just the right wingers who jumped on the blame-the-poor bandwagon. SNL had a bad skit who implied that Black (and lazy) homeowners were part of the problem. And actually Oprah was one of them too! As she had a CNN finanical "expert" earlier this week who sure enough - blamed homeowners who didn't make payments as part of the problem. And Oprah didn't object. She just stood there and basically agreed with him. Such moralism and condecension from someone who is one of the richest women in the world! Thankfully several days later Senator Obama put the proper priority on placing blame at the feet of the Wall Street tycoons. Oprah should apologize! I would say the same for Krauthammer (or whatever his name is) and his fellow crooked journalists, but that just seems like dreaming...Sadly it was not just the right wingers who jumped on the blame-the-poor bandwagon. SNL had a bad skit who implied that Black (and lazy) homeowners were part of the problem. And actually Oprah was one of them too! As she had a CNN finanical "expert" earlier this week who sure enough - blamed homeowners who didn't make payments as part of the problem. And Oprah didn't object. She just stood there and basically agreed with him. Such moralism and condecension from someone who is one of the richest women in the world! Thankfully several days later Senator Obama put the proper priority on placing blame at the feet of the Wall Street tycoons. Oprah should apologize! I would say the same for Krauthammer (or whatever his name is) and his fellow crooked journalists, but that just seems like dreaming...