Re: OT: McCains Howard Dean Moment.

[Jeff Shirkey <jcshirke@midway.uchicago.edu>]

   Why isn't anyone angry at the morons
> that took out loans they knew they couldn't pay back?

That's a tough one. For one thing, a lot of people probably thought  
they could pay back the loans--or at least hoped they could. When  
they discovered (later) that their interest rate skyrocketed, then  
they could no longer afford to pay. Second, I don't necessarily blame  
the consumers--at least not all the time. It's pretty tough to turn  
down the opportunity to buy a home (or take some other large loan) if  
someone is going to offer you the money. I blame the lenders, in  
other words. Another example: I have so many credit cards (and I get  
solicitations every week for more) with a total credit line of an  
obscene amount of money. Why in the world not just one bank--but  
several--would extend me credit lines of 20K or more, I have no idea.  
But they do. I could get in serious financial trouble very easily.  
Would I be to blame, or do the banks bear some responsibility as well?

Jeff