Some of the blame belongs to consumers, who borrowed money they knew they couldn't repay. They traded up & borrowed more than they could handl because, well, we all deserve a big house, don't we? Owning a home is part of the American Dream. But getting it through an interest-only adjustable rate mortgage is more like a nightmare.
Predictably, after the meltdown the liberals called on the government to adopt strict new regulations to ensure it will not happen again. (Good luck with that.) But more regulations can't solve what is largely an ethical problem within the culture. Unchecked avarice at every level has taken a toll on our economy
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The above quotations are from Leadership and Crisis, by Bobby Jindal. Click here for other excerpts from Leadership and Crisis, by Bobby Jindal. Click here for other excerpts by Andrew Cuomo. Click here for other excerpts by other Governors.
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