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Dec17
Sub-Prime Loan Culpability – Who Is Not To Blame
We have talked at length about who is to blame for the mortgage loan and foreclosure crisis. Now we should look at who should not be blamed and who should not have to foot the bill for this debacle of greed. You and I are the parties that I am talking about. We have not made any ethical errors. The American taxpayer should not be held responsible for the greed of the mortgage lenders and the irresponsible behavior of the government.

nofault.jpgTime after time, the “American People” are called upon to bail out corporations in trouble. I didn’t want to bail out Chrysler. They failed in the marketplace, and they have continued to fail in the marketplace since the bailout. They do not understand today’s automobile market and have proven it repeatedly. They should not be allowed to survive.

Neither should predatory mortgage lenders. They should foot the bill for the crisis they have caused. When they are gone, someone else will fill the vacuum, hopefully someone less greedy and more ethical. The government employees that failed to provide the oversight that was their responsibility should pay with their jobs. They failed to do them; they should lose them.

You and I did nothing wrong. We should not be made to pay for the bad behavior of others. We were not guilty of Bad Business and should not be made to pay.

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