Posted By:
LetsGoBucsIrresponsible spenders do NOT create an epidemic like this and instead of blaming these poor people, we should be trying to help them (or at least reserving judgment).
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I agree with that....its also irresponsible lenders and I don't want a penny of taxpayer $'s to go to fancy MBA suits either. Their shareholders should cut their bonuses to zero, demand previous bonuses back for shortsighted and money losing decisions and fire many of them for lacking common sense (ie offering loans to people without knowing doing any kind of credit analysis).
But I don't think its judgement to say that people that lived above their means should be the one's that pay for their behavior Those that live within their means shouldn't pay for those that aren't responsible. The sad part is that your absolutely correct in that many of these people have decent jobs, and are intelligent - but they played "keeping up with the Jones" and lost. I and millions like myself kept up with our affordable lifestyle and made responsible decisions. Why should I now pay for those that took the extra three vacations, drove the Porsche, and spent extravegently on Jewelry, clothes, electronics? If I knocked on your door and asked you to buy me a Iphone because I thought it was really cool - you'd probably tell me to take a hike - the people you describe are in essence asking for the same thing, just after the fact.