So, all those mortgages going under mean....nothing to you. Well, good. Welcome to the dark side of advocating responsibility & accountability, for one's own actions. Js, the new Conservative
yeah, it is their responsibility for their own ridiculous investment schemes. So why is your President and Treasury Sec. pushing so hard for this crap deal?
ASKED and ANSWERED already, to help stave off the connected mortgage failures of countless mortgages, across the country, with the potential for forclosures across the states.
And you missed out a key component to the problem. No one put a gun to anyone's head and said "you have to take this questionable really cool initial low ARM, no money down, mortgage. So, no, you're not going to pin this on "Big Mortgage". This has equal shares of blame for all parties, including the borrowers & the Fed, with the failure of the SEC to better demonstrate oversight on the larger lending institutions. And, IIRC, there were policies that allowed Lending institutions, to simply say "no" to would be borrorowers, who had very poor pay back ability and credit ratings, but the Fed, in its infinate wisdom, did away with such a policy, citing it inappropriate, unfair, something along those lines. That they had to make a legitimate effort to help make loans happen to those same foils.
Again,
blame for everyone, not just AIG or Lehman Brothers