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Who is to blame for the current economic problems : Swingers Discussion 1340141041
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TOPIC: Who is to blame for the current economic problems
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-In my opinion yesterdays Supreme Court decision

You know, there is a thread running in politics on this.

It's actually on topic there.

Columbia MD
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Ok ..... I admit it , I did it by not influxing enough of my earned capital into the economy. I did it by not overspending, by paying my bills. It is also my fault because I didn;t feel the need to go out and purchase a New Vehicle every year just to keep up with the "Jones's" , even if though i knew I couldnt afford it. It is my fault because I try to live within my means, because I didnt over spend on my home, because I didnt take on an oversized mortgage, that I knew I really should not have taken on. you want someone to blame? blame me because Idiots like me are tooo stupid to cry about it , we just keep paying.

your welcome !

Burlingham NY
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Seduction, could you be a little more specific about how for 100 years one side has been abusing the system?

Why is it such a bad idea for our representatives to represent the needs of the people in their district rather than the desires of oil conglomerates or drug companies? What this decision means is that you can't get elected unless you agree to support the agenda of large corporations even if those decisions harm the people who voted for you.

Elk Grove CA
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Of course the real enemy is our Greed! It’s convenient to want to lay the blame on Presidents and political parties but our greed that is destroying our economy. We all watch as oil companies make Billions of profits every quarter. We watch as their CEO’s retire with $400 Million dollar retirements. We watch as insurance company CEO’s make $30 Million in bonuses. We watch as Wall Street uses our money to make risky investments paying us 2% to use our money and if they win they make insane profits. When they lose it’s up the tax payers to bail them out. Don’t even bother trying to blame that on Bush or Obama they both use our money to bail out the banks and Wall Street!

In my opinion yesterdays Supreme Court decision on campaign contributions was a terrible blow to democracy in our county. Mega corporations who have a monopoly on certain commodities like oil, utilities, health insurance, and so many others can dictate who will be elected in the future. It’s all about money and it continues to be all about money. Oil can spend whatever it takes to elect candidates who will vote for whatever they desire for example. It’s already bad enough, yesterday’s news was that health insurance companies and drug companies spent $100 Million to defeat health care reform. That’s on top of campaign contributions to Senators of around a Million each. Who do you think they are working for the public or the insurance companies? Well it just got a lot worse. For those of you who love negative campaign ads and political phone calls this was a great decision for the rest of this it sucks. Our vote now means little or nothing. It’s all about the Money!

Elk Grove CA
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If we started this conversation talking about attorneys and people who always think it’s someone else’s fault for their problems. I’m guessing many of you all would be talking about how bad attorneys are.

When we have a problem it’s always convenient to blame someone else. We always want credit for anything we do that is good and we’ll blame someone else when it goes the wrong way. We are particularly good at that when it comes to political parties. My party can do no harm yours screwed up the world. I found it interesting that someone blamed Carter. Ya right 30 years ago some bill was passed that caused our economy to virtually collapse. Have you never made a mistake in your life? When you do make a wrong turn you correct it don’t you? If legislation was passed during the Carter administration that didn’t work are you saying he is at fault not someone in the 30 years who didn’t make a correction?

The answer to this question in my mind is that we are all at fault. When you buy a house you are buying an, drum roll please, an INVESTMENT. Tell me what happens to investments? They go up and down in value. If the value goes up we were smart enough to do the right thing. If it goes down it was someone else’s fault like those unscrupulous lenders! That gives us the justification to destroy the house taking everything we possibly can and pour concrete down the drains!

Elk Grove CA
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are you going to get verison to give you access to the 10 dollars amounts too?

Burlingham NY
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"The congress at that time passed the Community Redevelopement Act which requires bank to lend a set percentage to low income areas of the country."

Except most of the sub-prime loans were made by entities not regulated by the CRA.

Lakeside CA
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but in the end it really was a broad based failure of our government (All administrations and all levels of government were part of it) which led to the corp and financial world offering shitty loans along with cooperation from the perifery of the financial world, and last but not least:

the american public. no loans would ever go into default if the public did not A.) take them out, and B.) default on them.

it is nearly impossible to assign more than an equal share to all 3 entities. they all sucked us dry and america will surely clean it up and move on. hopefully we will be smarter next time.

Philadelphia PA
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If one has financial problems, they are to blame for getting into that bad spot not anyone else.

Responsibility starts at home.

Huntingdon Valley PA
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no doubt in my mind....and be ready this is so simple it seems stupid:

1/3 government-DOES NOT MATTER WHICH PARTY 1/3 financial system-meaning mortgage co, banks, fed, brokers 1/3 AMERICAN PUBLIC

it was so easy for the candidates to stand up in october and declare it was "the greed of wall street" blah, blah, blah-they could blame their own government body or party for that matter, and god forbid they ever criticize the american public-their voters for being greedy, manipulative and stupid when it comes to debt. they all share the blame because without any one of the three it would probably not happened. it drives me insane to hear people blame the first two and say the public was victimized. all of us can think back to our grandparents and how they handled their money. they had no advisors, lawyers, cpa, cfp-nothing they just knew they would not spend a nickel if they did not have a dollar in the other pocket to back it up. now (or more acurately in 2006 ish) you had people mortgage their monthly income to 55% of gross income for a mortgage payment. in simple working mans terms that means you are into your third week of the month to cover your mortgage, and not on take home pay-they figure it on gross pay.

Government encouraged, legislated and allowed it Financial system created products for people who could not handle them-in all income brackets American Public took it all and "acted stupidly". thanks for reading-now back to the business of enjoying this site.

Philadelphia PA
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TOPIC: Who is to blame for the current economic problems