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Posted By: Rich Klein

The biggest problem with the credit crunch; sub-prime; etc. is not that almost all of the people who bought homes did so with the understanding that they could afford the payments; it's not only that a group of people went into homes with ARM's that brought them in; but also it was that supposedly smart bankers bought into the same hype that property values would just continue to explode.

So you have people in homes they had no right to be in; both poorer people and people severly over extending themselves-- AND banks playing right along because this was a nice new punch bowl for them to drink out of.

And like usual in America, the only people that get hurt, are your average citizen -- not the rich exec's who made these horrible bets and leave with hundreds of millions in severance or those idjits who did what they never should have done; but will still be bailed out by our government. Why can't THOSE people take responsibility for their actions and mistakes?

Rich