I think the greed of the banks and a lack of government regulation are the main problems but I also think that individuals do need to take responsibility for getting themselves into mortgages that they could never afford to pay off. I agree they should never have been offered these mortgages in the first place and I don't think these individuals were greedy, but I also think that these people didn't think the decision through properly.
Despite this, I also agree with what you say - a lot of people were responding to market conditions and this was hideously inflated at the time.
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timeasmymeasure
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Date: 2011-03-22 11:32 pm (UTC)Despite this, I also agree with what you say - a lot of people were responding to market conditions and this was hideously inflated at the time.