Not my fault!
Last month I learned that we are all Georgians now dragged into another stupid conflict without any clear understanding of the region, the forces and the consequences. Now I’m reading that I’m to be blamed in the credit and real estate crisis:
Liberals are blaming the banks, and conservatives the government, for the push into no money down housing purchases. But the fact is, we’re all at fault. Everyone in the country–buyers, sellers, financial advisors, bankers, regulators–became convinced that owning a home was a surefire ticket to wealth, and that therefore everyone could and should buy one. Now we’re surprised that we’ve gotten into exactly the same trouble as everyone else who thinks they’ve got a way to make money without working.
I’m sorry to disappoint those who are seeking to create false solidarity here - it isn’t my fault and taking my money to bailout people who made irresponsible decision is immoral. I took responsible loan I bought a smaller house than I would have wished too so it will be in my calculated budget, the only reason I’m being included in this mess is by making it harder on me to pay my own mortgage while saving other people - mostly bankers who were blinded by greed.
You might argue that providing safety net to those who cannot afford the house they bought and that saving the banking system is crucial for the economy. I would disagree with this argument but I think it is a valid one; however arguing that we are, all of us, in fault - and as a result should morally responsible to pay for the recovery effort - is plain simple wrong.
Tags: Bailout, Real Estate crisis, Sub Prime MortgageRelated posts
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