It is lack of oversite that got the US into trouble in the first place.
i beg to differ.
consumer greed did as much as shady lendign practices. our stockmarket has been artifically high for decades. I have been waiting for it to correct. Now it will, and everyone living on borrowed money is going to feel it
our parents and grandparents, for the most part anyway unless youre from a filthy rich family, got what they had by earning it and living within there means. seems we dont want to wait. we watn the house and the boat and the new car and houseful of gadgets and perfect lawn now. As in over Nihgt. nothong wrong with that if you can afford it but most people cant so they borrow too much. when all the credit comes due at once it dont take a finacial wizzard to figure out whats goign to happen.
as far as the goverment goes, the less they get involved with anything the better off we are. when this county was founded the role of the goverment was clearly defined. Now they overstep it every day and no body seems to even know.
This whole mess is full of people to blame. American consummers are right there toward the top of thet list. Some Where along the way we lost sight of the line between want and need and between goal and right and between assistanse and entitlements. Now we get to pay for it whether we practised it or not in our own lifes. Liek everything else, some pay for the stupidity of others. No Body can tell me thats how it was designed but thats what its become. The ones I really feel sorry for are the teenagers. imagine how hard it will be for them to buy a house in ten to fifteen years.