Blame abounds for housing bust

[Vegas]

Too long to post, but a great read:

http://www.washingtontimes.com/apps/pbcs.dll/article?AID=/20071226/BUSINESS/572777982/1001

[abreu]

Thanks for that Vegas. I'm excited to read parts 2 and 3.

Also, call me an insane libertarian, but I can't say I'm a fan of all this government spending to rescue the people and banks in the crisis, and also to educate future homeowners.

I understand the actions taken by Congress and the Fed were to avoid complete economic destruction, but it makes me cringe to see these people say "well, we didn't know this would happen!' and get aid from my tax dollars. Alright I don't pay federal income tax because my income is low, but you catch my drift.

I'm 19. I consider myself to have more knowledge of finance and economics than most my age, but I think any idiot can figure out that a bank isn't just going to give you a house. They knew full-well what would happen, but they were driven by materialism and greed to buy something they couldn't afford. I'm worried about the government spending tons of money so people can avoid personal responsibility.

I'm not sure where I read it, it might have been from a poster here, but it went something like this.

Some people are just too stupid to own a home.