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The BLAME for the sad situation America is in belongs to :
1. The American people for spending beyond their means instead of saving..
2. The US Federal and State Governments for doing exactly the same..
3. The politicians in BOTH Parties who are in cohoots with big business and special interests, all for mutual profit.
BUSH & CLINTON passed laws pushing Banks to lend money to ANYONE for purchasing houses and Barney Franks agreed to have Fanny - Mae play the game.
They deserve jail !.
VIRIATO1942 2 years ago
americans are the dumbest ....all over teh world we blame the white americans for living beyond what they really have,,
Ducthy2009 2 years ago
ohhh come on do you belive what fox has to say.... whatever, now the poor people are to blame and the real resposable ones get 700 billions payed by the tax payers... way to go way to go
mitomj 3 years ago
If I'm not mistaken, a lot of the problem had to do with private banks being involved in predatory lending. fannie and freddie don't actually do the lending, they buy up loans on the secondary market. Wasn't it the private banks who were originating loans with less-than-qualified individuals? I believe fannie and freddie get some blame for the current situation (creating a 2nd market for the loans), but to imply that they and their supporters get ALL or most of the blame...are you for real???
scpotts101 3 years ago
They did not pressure them into lending that money, they only allowed the corrupt banking industry to do what they wanted, which is to make every decision based on greed. Nobody told the banks they had to lend to people who could not pay back there loans the banks did that all on there greedy lonesome. Now please go kill yourself for being a dumb turd.
peter1114222 3 years ago
Your information is incorrect. The banks were forced to give loans to unqualified individuals because otherwise it was considered racist and selective. The government said here are our lawyers give out these loans or we will shut you down.
PhatBeat128 2 years ago
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AnimeQueen007 3 years ago
Here is the step by step video of what happened, why all these banks are failing and how we got to where we are . . . NU6fuFrdCJY
And be ready to hit pause as it really moves along quickly.
FreeAgain2 3 years ago