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2020 Explains The Mortgage Meltdown

This is an excerpt from the 10-17-08 20-20 broadcast about government interference in people's lives. This segment discusses the cause of the mortgage meltdown, and what to do about it.

posted by truth-is-the-nemesis
3/15/2009 1:51:06 AM

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2 Comments

Current View: 15 / Show all Comments

nerdicus : LVL 34: VP 4.2: said:

Hidden (Show Comment) 1 votes

252 days 23 hours ago...

The problem wasn`t/isn`t over regulation, it was stupid regulation.

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Tada : LVL 43: VP 5: said:

Hidden (Show Comment) 0 votes

252 days 9 hours ago...

The problem wasn`t that people bought their homes and didn`t pay back the loans, it was largely that people bought thought they were making a good investment by buying real estate and selling it later on. The easy loan made it a lot easier for people to actually do this. Basically people abused the system and the system allowed itself to be abused. So both greed and bad policies were there.

However that is just the housing bubble. The real problem came about when the bubble brust and people couldn`t sell their houses, which ment they couldn`t pay back their debt, which meant the banks lost a huge portion of their capital.

Greedy people abused the bad system.

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