Who to Blame for Financial Crisis

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Feb 13, 2009 | 02:23 AM

#16

GrnXnham

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From: Tacoma, WA

Quote:

Originally Posted by momalle1

The over-riding theme is lack of regulation.

I say the opposite--too much regulation.

Feb 13, 2009 | 02:29 AM

#17

Lumadar

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From: San Diego

Quote:

Originally Posted by kingfish51

Interesting that Barney Franks, one of the better choices isn't on there.

A strong indicator that the article is GARBAGE.

Feb 13, 2009 | 04:10 AM

#18

Klitch

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From: Washington

wheres pelosi? lol

Feb 13, 2009 | 06:38 AM

#19

2stroked

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Joined: Mar 2001

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From: Rochester, NY, USA

Who caused this mess? Well, I'll answer the question of "what" caused this mess, then you can attach a whole bunch of different names to who. The what is one word - GREED.

Feb 13, 2009 | 09:05 AM

#20

Bluejay

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From: Burleson/Athens/Brownsboro, TX

Quote:

Originally Posted by 2stroked

Who caused this mess? Well, I'll answer the question of "what" caused this mess, then you can attach a whole bunch of different names to who. The what is one word - GREED.

Exactly!

__________________
Jim

Feb 13, 2009 | 09:08 AM

#21

msparks

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From: Clarksville, Tennessee

Quote:

Originally Posted by Frank S

Who's to blame?

Follow the money and go back to the source:

The Federal Reserve and their inflationary monetary policies.

Read, "The Creature From Jekyll Island."

+1 The Fed create the boom which was followed by the bust. Hang on to your horses, cause your gonna see the dollar inflate like gangbusters once we get out of the recession.

Feb 13, 2009 | 10:49 AM

#22

openclasspro#11

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Joined: Aug 2004

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From: North Huntingdon,Pa.

blame it on people who live beyond their means, if they have a dollar,theyt spend it all, never save, never prepare for what if, these people live by their wants instead of by their needs

Feb 13, 2009 | 10:56 AM

#23

Arctic Cat F7

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From: The Deep Back Woods of The Great White North

I think alot of people, companies and government are to blame. People got in way over their head with credit buying things they can't afford. Banks making stupid loans to people that are high risk and governments allowing it to happen.

Its a bit of a chain reaction.

Mar 18, 2009 | 07:11 AM

#24

kingfish51

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Joined: Dec 2003

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From: Mount Airy,MD

Who says this isn't caused by the CRA.
A bank in Ma. is now being given a negative rating by the FDIC for only loaning money to those with a decent credit rating. Why, because of the CRA.

http://www.foxnews.com/story/0,2933,509584,00.html

Mar 18, 2009 | 08:06 AM

#25

Raoul

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From: the moral high ground

Quote:

Originally Posted by kingfish51

...A bank in Ma. is now being given a negative rating by the FDIC for only loaning money to those with a decent credit rating....

Decent? They've lent 28 cents of every dollar on deposit.

That bank is run by Lionel Barrymore.

Mar 18, 2009 | 08:20 AM

#26

Super FX4

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Joined: Mar 2007

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From: Memphis

The Banks and anyone in connection with them. That would be just about every politician out there. Time magazine should not be a source of information.

Mar 18, 2009 | 08:45 AM

#27

kingfish51

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From: Mount Airy,MD

Quote:

Originally Posted by Raoul

Decent? They've lent 28 cents of every dollar on deposit.

That bank is run by Lionel Barrymore.

So what you are saying is that BofA and others did the right thing by lending money to those that can not pay it back, so the FDIC and TARP can backup the deposits of the bank. Isn't that the reason all these other banks are in trouble?

Mar 18, 2009 | 08:53 AM

#28

Raoul

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From: the moral high ground

What I'm saying is the bank in MA should not be held up (no pun intended) as a standard of the industry. Their negative rating is deserved.

If all such institutions maintained a 28 cents on the dollar, loan to deposit,
we would be wearing loin cloths, swinging from trees and trying to steal each other's bananas.