Jane

Personal Responsibility and the Housing Bubble

As for the title which includes the term Personal Responsibility, I'd like to see the housing and mortgage industries' leaders take personal responsibility. And, the govt officials who took their lobbying money and campaign contributions, too. The govt was warned years ago that mortgage fraud and lax lending would lead to a meltdown, and it did nothing.

As I said above, these industries sponsor networks and shows like HGTV's. They hammered the message into people's heads for years that they ought to own a home even if it mean using toxic financing. Of course they didn't call it toxic, they called it The American Dream of Home Ownership. The CEO's calling the shots at these companies were in some cases committing fraud, and they were certainly being unethical and destructive. Their pals in govt also knew. These people were in it for short term huge profits for themselves, it was never about homeowenrship. They of all people should've known it was wrong and dangerous. So let them take some personal responsibility, too, maybe by first being stopped from their incessant whine for a multi-billion dollar bailout for their industry. They should be investigated for fraud instead.

Those borrowers who lied or were complicit in fraud should also face charges. But many were not lying, they were duped, fooled, suckered...and in some cases outright defrauded by lenders forging documents.

Personal Responsibility and the Housing Bubble

Someone else in these many comments may have already noted it, but HGTV shows aren't there just because that network thought them up...they are there because the housing industry wanted them there. Look at the credits and sponsors of these shows. I see the National Association of Home Builders on some, for example. The mainstream media is controlled by corporate interests, and in some cases outright owned by corporate interests. These industries are pushing their agenda by way of "entertainment," and even "documentaries." It's nothing new.