I tend to spread the blame around, everyone deserves a little part. If I talk about blame at all, which I don’t like to. But I’m not accepting a compromise on this one.

I am really tired of people blaming those who bought houses they couldn’t afford for the financial crisis. It’s not their fault. Not in any way whatsoever at all. It might be their own fault if they wind up homeless, or bankrupt, and I have no sympathy for the people who hoped to flip houses, but none of those people bear any blame for the financial crisis.

EVERYONE knew those loans were risky. The crisis stems from bankers who built their financial structure on quicksand, ignoring the posted signs (in the form of high or adjustable interest rates) that shouted “this land is not stable and may collapse without notice at any time.”

The banks don’t even know how exposed they are to bad loans, and that ignorance is fueling the reluctance to lend. They don’t even know where their money is invested. Who are you going to blame for that?

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