Are we asking the right questions; focusing on the big picture in the sub-prime crisis?
Monday, June 2nd, 2008bless424 asked:
Everyone knows now that the credit challenged purchasers are now losing their homes in rapid numbers, but no one is asking about who is benefiting and making rapid income from these losses? We are too distracted with hearing “a lot of foreclosures are happening because of sub-prime lending” to ask, “Well, is there anyone benefiting financially while all these people are losing their homes? Why is no one coming forward with a solution? After all, someone came up with the bright idea to help the credit challenged get these homes and it didn’t work so they are sitting back saying, “oops!” Why? Where are the efforts to make amends for a situation that was industry created, not individually? Is the “smoke screen” to the public that it is the fault of the the credit challenged because they knew they were taking on more than they could handle? Weren’t they just low income, financially irresponsible idiots in the first place? Wasn’t this all very predictable? How predictable was it?
Question posted courtesy of: Kathryn
Everyone knows now that the credit challenged purchasers are now losing their homes in rapid numbers, but no one is asking about who is benefiting and making rapid income from these losses? We are too distracted with hearing “a lot of foreclosures are happening because of sub-prime lending” to ask, “Well, is there anyone benefiting financially while all these people are losing their homes? Why is no one coming forward with a solution? After all, someone came up with the bright idea to help the credit challenged get these homes and it didn’t work so they are sitting back saying, “oops!” Why? Where are the efforts to make amends for a situation that was industry created, not individually? Is the “smoke screen” to the public that it is the fault of the the credit challenged because they knew they were taking on more than they could handle? Weren’t they just low income, financially irresponsible idiots in the first place? Wasn’t this all very predictable? How predictable was it?
Question posted courtesy of: Kathryn
