Hey! All you Conspiracy Theorists In Here!!!

[Eyeball Chambers]

What about the people that lost their jobs? If they still had their jobs, they could still be paying.

Regardless of what kind of loan they had.

You're right, I was wrong to simplify the problem like I did.

Many of these people took on monthly payments that were already more than they could handle, and were bound to lose their homes one way or another regardless... 

I'm not completely blaming them, but all it would have taken was a little research and not blindly following the mortgage brokers...


Guess we've all learned from this.

"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — [pauses] - shame on you. Fool me — You can't get fooled again."

-GWB

[chaos]

You're right, I was wrong to simplify the problem like I did.

Many of these people took on monthly payments that were already more than they could handle, and were bound to lose their homes one way or another regardless... 

I'm not completely blaming them, but all it would have taken was a little research and not blindly following the mortgage brokers...


Guess we've all learned from this.

"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — [pauses] - shame on you. Fool me — You can't get fooled again."

-GWB

Does anyone know the percentage of people that defaulted because of loss of income vs those that got in over their head?

[Eyeball Chambers]

Surely they're published somewhere?

Regardless, it's not like it's some conspiracy.  People agreed to take on debt, and couldn't come through.  Sad situation, but ultimately they're responsible. 

[chaos]

Surely they're published somewhere?

Regardless, it's not like it's some conspiracy.  People agreed to take on debt, and couldn't come through.  Sad situation, but ultimately they're responsible. 

Ciurcumstances beyond their control, many people did not expect to lose their jobs, many of the people I worked with were let go and had over 20 years with the company, so it's not like they were low on the totem pole. I agree it's not a conspiracy, however to say people took on debt they couldn't pay is an oversimplification of what really happened.

Do you own or buying a home?

[Eyeball Chambers]

Ciurcumstances beyond their control, many people did not expect to lose their jobs, many of the people I worked with were let go and had over 20 years with the company, so it's not like they were low on the totem pole. I agree it's not a conspiracy, however to say people took on debt they couldn't pay is an oversimplification of what really happened.

Do you own or buying a home?

Rent...  

I understand that more came into play, I guess my only point is that you've got to prepare for rainy days.  Only a small percentage 1 in every 136 (I think) homes have been foreclosed on. There wasn't an organized effort to screw people over.  Greed just became to large of a factor, for the lenders and the mortgagers.

It's very sad, I feel for these people.  Especially their children...

[Eyeball Chambers]

I should also add the fact that I'm biased, because I knew of three foreclosures on a personal level.  Each one was sad, but stemmed from irresponsibility.

[Hugo Chavez]

Great program...

There are some good documentaries on the subject on Front-line PBS...

So you guys can rule out the conspiracy theory that many believe the reptilians benefited from collapsing the housing market.

I don't think anyone is suggesting the wild type of conspiracy.  No alien agenda or reptilan bs here.  That's sev's territory and he doesn't post here... thank the gods   But there's probably sneekybastard shit the went on and some of it with obvious agendas that would constitute a conspiracy.