Posted: 3/20/2012 8:34:01 PM
Originally Posted by promark12
OK, but why did the banks go ahead and make house loans to people they had to know wouldn't be able to afford the payments? Who approved all this?
Who approved it? You and I...by electing politicians who knew about the house of cards but also knew that blowing it down would create a prolonged recession.
As goes housing goes the economy. You reduce borrowing power, you reduce spending, and on and on we go. No one wants to be that politician in charge when it comes to fruition.
That's why I laugh when people blame dems or repubs. This is one area where the letter beside the name didn't/doesn't matter.