Luca Rivera:  Luca says: what irresponsible are you talking about? The Working class dope who borrowed money so he could own a home or the Finance, Insurance and Auto Billionairs who leveraged up to to make more billions? Oh, I forgot, only the working slob is irresponsible, the Wall Street group are shrewed. They know the treasury vault is always open to them. Luca says: If you can give AIG billions you can give a working slob a house.

Tony Bennett:   The guilty are everywhere from Wall Street to “home” buyer.

You are fantasizing if think all “working class dope” bought a home as shelter … and should be let off the hook (apologies to those who tried to do the right thing). In the heyday (circa 2005) Home Equity Withdrawl (refinancing with cash out) reached $500 billion / year. The “working class dope” was buying new vehicles / vacation / concert tickets / etc with proceeds that he had no chance of paying back unless housing continued to appreciate to the moon. The reason they got foreclosed is that they either bought a house they had no prayer of making payment when mortgage reset (if they could not understand the mortgage documents … no business buying) … or they HEWed out so much to make future payments unrealistic. Icing on the cake was being allowed to stay in their homes months / years after making last payment.

Me:  Of course there is plenty of blame to go around, but when you factor in the fact that the Banks are the one’s who are in “control” of the system and so are the enablers of its negative effects both individually and systemically…plus the fact that the Banks have already been bailed out….it’s obvious who needs to be bailed out now. That is if you want to return to a semblance of normalcy instead of wallowing in the debt over hang for another 30 years and/or having a war that destroys EVERYONE’S productive capacity. And then we can borrow from the Banks to rebuild it all. We so need to stop being the slaves of the Banking system.