180 degrees follow up

[Anna Plastic]

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Hi everyone--

Many thanks to everyone who has PMed asking about specifics to my posting in LADoc's "180 degrees" thread, and my apologies to everyone who has had to wait a bit--I appreciate your patience.

Lots of folks have asked about specifics on investigating the state of the economy. I'm putting together a reading list for folks who are interested, so stay tuned.

 

[Gut Shot]

Good thread! Fellow bears unite.

My personal fave for watching the housing mess unwind:

http://patrick.net

 

[yaah]

I love that the government is now trying to bail out people who bought unaffordable loans. They were "tricked" you say? If I ever get arrested, I am going to use that excuse.

 

[HCE]

I love that the government is now trying to bail out people who bought unaffordable loans. They were "tricked" you say? If I ever get arrested, I am going to use that excuse.

Was anyone here tricked into signing student loans that the government can now help with? Yah, that'll work...

 

[DrBloodmoney]

I love that the government is now trying to bail out people who bought unaffordable loans. They were "tricked" you say? If I ever get arrested, I am going to use that excuse.

Unfortunately, this quaint simplification completely misses the point. While the consumers bear some responsibility for the mess they find themselves in, the majority of the blame lies with the government's near-total failure to regulate the predatory lending industry while promoting home-ownership. So if you're going to be angry at the government for something, at least be angry for the right reasons.

Hi everyone--

Many thanks to everyone who has PMed asking about specifics to my posting in LADoc's "180 degrees" thread, and my apologies to everyone who has had to wait a bit--I appreciate your patience.

Lots of folks have asked about specifics on investigating the state of the economy. I'm putting together a reading list for folks who are interested, so stay tuned.

Sounds great. I'd love some pathology-specific info.

 

[yaah]

Unfortunately, this quaint simplification completely misses the point. While the consumers bear some responsibility for the mess they find themselves in, the majority of the blame lies with the government's near-total failure to regulate the predatory lending industry while promoting home-ownership. So if you're going to be angry at the government for something, at least be angry for the right reasons.

Well, we're not going to argue about blame here. I think blame can be shared in many different areas. It isn't really relevant to this forum anyway, sorry I brought it up.

 

[Trenchcoat]

Unfortunately, this quaint simplification completely misses the point. While the consumers bear some responsibility for the mess they find themselves in, the majority of the blame lies with the government's near-total failure to regulate the predatory lending industry while promoting home-ownership. So if you're going to be angry at the government for something, at least be angry for the right reasons.

Blame regulation all you want. The fact remains that a good number of people who are in ARM hell were only able to get ARMs because of their inability to control their wanton spending in the first place. Now my tax dollars have to bail them out?