C.elder

Corporate Fraud + Government Intervention = Bailout Nation

Instead of another article seeking to blame the banks,and portraying others as victims,why not state the truth?The truth is that deadbeat Americans won't pay back all the money they borrowed on their mortgages,credit cards etc.Yes,they borrowed all that money to buy cars,houses,plasma screens etc, and now are walking away from those obligations to repay and they expect the banks to take the hits.But meanwhile they keep those plasma screens etc.Those are the poeple responsible for the losses in the banks,not the banks themselves.The banks lent them the money expecting to get repaid,when that doesn't happen you criticise the banks!It is too easy in America for unscrupulous borrowers to walk away from their obligations with no consequences to them.Those who declare personal bankruptcy,or don't repay their loan obligations should be forbidden from taking out any further loans for at least 10 years.People would think twice about not repaying,and even better would not get into so much debt to begin with.