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<blockquote data-quote="Brian" data-source="post: 407014">I think the housing crisis is really a matter of scale. If only a few people lost their homes becuase they mistakenly believed that interest rates would be stable then -- oops, that was a mistake and few people had to foreclose. The &quot;Crisis&quot; really comes in when its literally millions of families that lost their homes which is representative of a larger economic problem and a calls into the question the honesty of the financial institutions and whether they should be regulated more strictly in the future so this doesn&#039;t happen again. Should people have bought a home in the first place that they couldn&#039;t afford? Of course not, but they were told by the finanical experts that they could afford it. What&#039;s more, the experts believed it -- because if the family forecloses, they lose money. So the scale of the misinformed is so great that that creates a crisis. Why should you feel bad for someone who didn&#039;t have their finances in line? I don&#039;t know --- your feelings are your business, if you don&#039;t feel bad, don&#039;t worry about it -- I can definately see the argument.</blockquote>

[QUOTE="Brian, post: 407014"] I think the housing crisis is really a matter of scale. If only a few people lost their homes becuase they mistakenly believed that interest rates would be stable then -- oops, that was a mistake and few people had to foreclose. The "Crisis" really comes in when its literally millions of families that lost their homes which is representative of a larger economic problem and a calls into the question the honesty of the financial institutions and whether they should be regulated more strictly in the future so this doesn't happen again. Should people have bought a home in the first place that they couldn't afford? Of course not, but they were told by the finanical experts that they could afford it. What's more, the experts believed it -- because if the family forecloses, they lose money. So the scale of the misinformed is so great that that creates a crisis. Why should you feel bad for someone who didn't have their finances in line? I don't know --- your feelings are your business, if you don't feel bad, don't worry about it -- I can definately see the argument. [/QUOTE]

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