Quote:
Originally Posted by TheSquealer
The aspiration of an irresponsible financial idiot should be to get his shit together or be left out as an incentive... instead we've built a financial system that learned to cater to and service the lowest common denominator... THAT is what caused the housing bubble and collapse and the subsequent financial problems to begin with (oops! forgot this is gyf... i mean't "I blame George Bush"). It all began with credit to people who don't deserve it and making shitty mortgages made to people who should have never qualified for mortgages.
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Banks are supposed to be able to assess risk. They didn't. That kind of shit happens when they're unregulated, and they're greed goes unchecked. I wouldn't blame George Bush though - although he knew about the problem and ignored it - I would blame every president going back to Ronald Reagan, greedy financial institutions, and last but not least American consumer bots. But the financial institutions should bear the brunt of the blame. They are the professionals in their field. If an electrician comes to your house to work on something and gets electrocuted, does he blame the electricity? No, that would be fucking retarded.