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What Caused the Financial Meltdown?
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<blockquote data-quote="UPS Lifer" data-source="post: 403697" data-attributes="member: 9789"><p>av8torntn,</p><p></p><p>I know a lot of folks who believe as you do including my wife! There is a lot of merit to what you say...</p><p></p><p>However, most folks really don't understand how the financial process works. </p><p></p><p>Their main concern is "Can I afford the payment?". Before the meltdown they even were optimistic. They believed that they could pull money out of their houses. </p><p></p><p>Speculators should not be rewarded. But we do need to stop the bleeding, and maybe it is an across the board cut on the interest on EXISTING primary home loans.</p><p></p><p>I don't know how to "split the baby". Anything we do is going to have some sort of pitfall. </p><p></p><p>I don't like my tax $$ going to the leeches of the world but I certainly do not want to see my neighbors losing their homes either. </p><p></p><p>We have to find common ground don't you think? If we don't, the USA will fail! This is not an option.</p></blockquote><p></p>
[QUOTE="UPS Lifer, post: 403697, member: 9789"] av8torntn, I know a lot of folks who believe as you do including my wife! There is a lot of merit to what you say... However, most folks really don't understand how the financial process works. Their main concern is "Can I afford the payment?". Before the meltdown they even were optimistic. They believed that they could pull money out of their houses. Speculators should not be rewarded. But we do need to stop the bleeding, and maybe it is an across the board cut on the interest on EXISTING primary home loans. I don't know how to "split the baby". Anything we do is going to have some sort of pitfall. I don't like my tax $$ going to the leeches of the world but I certainly do not want to see my neighbors losing their homes either. We have to find common ground don't you think? If we don't, the USA will fail! This is not an option. [/QUOTE]
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