Quote:
Originally Posted by onewhippedpuppy
The emphasis isn't on the individual that made a stupid or irresponsible choice, it's on the "big bad" banks that "lured in" unsuspecting homeowners. Everyone's a victim. By not punishing these individuals for their mistakes, we are essentially rewarding their bad behavior. This entire bailout is positive reinforcement for stupidity.
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Actually, the blame goes everywhere. There are very few innocent players in this game.
- bankers
- homeowners
- realtors
- appraisers
- investors who failed to analyze securities
- Washington DC bigheads
- ratings agencies
- mom and pop investors looking for riskfree yields far in excess of treasury yields
There was a total breakdown across the board. The "More Bad RE News" thread was proof of the denial, greed, and stupidity.