ORIGINAL: deer655
Amen to what Spaniel said. I think about the expression used to describe the folks that lived during ww2: the greatest generation of all. Then I think about what happening now and i guess we are the generation of spoon fed candy asses that have allowed knuckleheads in government run our great country into ground. it was known for years that government was encouraging banking institutions to make risky loans to folks that couldnt afford them but nothing was done.I couldnt believe I saw a Bill Clinton interview the other day and he slightly took some of the blame for pushing this practice. but all we hear from obama is the failed practices of the last 8 years.Sorry , just venting
Let's also remember it's not just the gov't or bankers at fault here. Every person who made the decision to participate in this mess -- be it maxing out their cards on crap they didn't need and couldn't afford or taking a mortgage their finances wouldn't support -- is equally to blame. The politicians will never say that as they would lose votes but I don't run for office.
I bought my house during the latter part of the craziness. They pushed me on an adjustable rate loan - NO. They approved me for 100% higher than I could really afford - NO thank you, I'll stay with what I can pay even if one of us loses our job. 30 year fixed rate, thank you. Rush me out of the signing meeting - NO, thank you, your impatient butts can sit there and wait while I read every single word of the most expensive contract I am likely to sign in my life.