ST Alpha - "Everybody is to blame here..." (Reading a Post)

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Everybody is to blame here...

Posted by Marlowe Oct 23 '08, 09:33

The banks that figured they could sell stuff to people that should not buy, for greed.
And the people that bought houses they could not rightfully own, also for greed.

Responses:

[deleted] 14
- I disagree. - ty97 Oct 23, 09:40 13
  - [deleted] 11
    - If the homeowners never take the loans, then the bank never give the loans, and the bad loans never exist. - ty97 Oct 23, 09:45 5
      - [deleted] 4
        
        Homeowners taking loans they couldn't afford to pay is just just a tangential item. It is a direct cause of the problem. - ty97 Oct 23, 09:54 3
        
        [deleted] 1
        
        of course one homeowner did not. many homeowner, however, contributed -- nm - ty97 Oct 23, 10:01
        
        *not* just a tangential item -- nm - ty97 Oct 23, 09:54
    - If I know that you bought a hot-dog you can't pay for, I'm not loaning you money.. (NM) - Marlowe Oct 23, 09:44 1
      - [deleted]
    - Because when they all default on their loans within a very short period, no one has confidence to lend money any more -- nm - Roger More Oct 23, 09:44 2
      - [deleted]
      - and when they're bundled and sold as securities, those securities are now worthless. -- nm - mafic Oct 23, 09:47
  - Yep.. (NM) - Marlowe Oct 23, 09:41

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Everybody is to blame here...

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