2/16/2012 3:02 PM
Dennis,
I can agree with you that there was a mistake made with the mortgages made to the low income, it sounds like it was made with good intentions. When it is probably looked at, the democrats where behind that mess, but as Keith stated, the middle class tried to take advantage of it as well, I know the last two times we bought houses, the banks were trying to encourage us to buy more then we wanted to spend, one of the guys on my crew said the same thing happened to him, his wife almost fell for it, until he explained the possible pitfalls, we didn't fall for it because we knew our typical medical expenses would make things too tight. Why were banks doing that with the middle class (and probably all people they were trying to loan too?) because and I can't prove it, but it is my opinion, the republicans allowed the deregulation or didn't put any safety nets on those loans to help their constituents make money selling the loans, they were smart enough to figure out how to make a ton of money, whether it was right or wrong. If they had the country in their best interest they should have said whoa, hold on here, let's think this thing out.
I don't mind you hammering the democrats when they are to blame for something, but the blame doesn't just stop there, it is on both sides and that is what it seems you won't recognize.
Mel
Melvin H. Waldron III, CGCS, Horton Smith Golf Course, City of Springfield/Greene County MO