Originally Posted by
Scoop
CAPN, Plenty of blame to go around on both sides of the political fence and also the people who were taking out loans that they could not pay for.
True, lots of blame. It just gets old hearing the red team blame it all on the blue.
Personally, I put the majority of blame on the banks whos job it is to size up the loanee and make the fiscally responsible choice to not extend the credit. Did they do that, no, they made the bad loan anyway. On top of that they sold the bad paper to another financial institution who had no clue as to the viability of the loan. That was bad business and greed propelled those transactions.