Reply #6: Thank you,

[MadHound]

As the old saying goes, it takes two to tango, and the lenders couldn't have done it without the borrowers who couldn't have done it without the lenders.

However there has been a bipartisan effort over the past decade or so to weaken laws and regulations that allowed this to come to this point. Repeal of part of the Glas Steagal Act, approval of various forms of lending, approval of various bundling schemes that actually made mortgages a hot, trade worthy commodity, etc. Both parties sadly danced to the tune played by their corporate masters in the finance industry and allowed for a market and investment climate that hasn't been seen since the Roaring Twenties(and we know how that wound up).

But sadly, once again it is indeed all about mutual greed. Frankly I don't think that there should be a bailout for either group, lenders or borrowers. But too many people are screaming, and once again we who have played by the rules, made smart decisions and didn't let our greed take over are going to be paying out major tax dollars to bail out those who were blinded by dollar signs. Worse yet, were all going to pay a heavy price as our already shaky economy plunges over into the abyss.

You think that people would learn, but sadly it seems not. My mother and step father were warning about this mess a few years back and where it would lead, but then again they saw the Great Depression shape up and know the warning signs. Sadly, too few people learn the lessons of history, perhaps because it has been neglected in our schools the past couple of decades or so. Of course the rich are going to make out like bandits, times like this are considered to be buying opportunities for them.