Who Do You Blame For the Crisis?

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all u said it's totally right but there something u forget
and i think it's the reason The political leadership
i think Bush he did this
1# 11 September events is Conspiracy by bush because he huts the middle east
2# war in iraq
3# Mortgage
those problems have occurred since Bush took the state
So I expect that the cause of the crisis a political conspiracy by Bush

evian of FL 9:44AM January 18, 2009

We routinely spend more money than we earn. We sign up for risky mortgages that we do no have the income to support. We must have the latest gadgets (Iphone, HDTV's) even though our current gadgets still work. We elect politicians from both parties whose incompetence is mind boggleing. We want everything now and expect someone else to pay for it. And when thing turn bad, we look to blame anyone except ourselves.
We are the problem.

Bob of TX 10:50AM January 16, 2009

This isn't a liberal/conservative thing. These crooked politicians like Franklin Raines, Maxine Waters, Barney Frank and others all looked the other way while Fannie Mae and Freddie Mac gave millions in political donations to both sides of the aisle. They bought these elected crooks in order to pass legislation that was corrupt. But no one spoke up because of all the payoffs. And the profit statements looked great in everyone's 401K.
So now we taxpayers are paying the piper for letting these crooked elected dirtbags rip us all off. And they did it just to stay in power with their constituents. We the people no longer have representative government because we don't have the money to buy influence. Only corporations have representation in todays corrupt political sewer. Until Americans snap out of their MTV induced stupor, expect more of the same.

Rick of CA 8:27PM January 15, 2009

I'll agree with all of the above, but also we need to look to ourselves, as consumers who bought too much and accepted all that easy credit. Now it's time to stop the consumerism mantra and get back to core values while all the other causes get resolved.

Aryn of CA 6:32PM January 15, 2009

Economists

Luther of IL 5:53PM January 15, 2009

Commodity speculators and a poorly regulated exchange are more to blame for the oil run-up than are oil companies.
There is a chance that "mark-to-market" accounting rules for thinly traded mortgage bonds caused a "crisis" of confidence that did not need to happen. These things have "some" value in future mortgage payment collections, but we forced many of them to near worthlessness or actual zero in a panic of selling and artificial markdowns.
We never ever should allow the shorting of any stocks on a "downtick". And we should never allow "naked" shorting where shares are sold before they are even borrowed.
All of these things are factors of bad or absent financial regulation. Yes, the "conservatives" thought them all okay.

of 12:03PM January 15, 2009