[Phaneuf3]

Originally Posted by wpgflamesfan

Great point. I've tried making this point that "the people who took out these loans are more responsible then those who gave them out" numerous times, but every time I do people always shoot me down saying that it's all the Ceo's/Executives faults. I guess the way I see it is, just because something is available to you, you shouldn't necessarily take it. It's up to each person to not only educate themselves on major decisions such as mortgages, but also ensure that should things turn out bad, they have a solid back up plan. While I do sympathize with some of the people that have lost their jobs, houses etc, I do not give a damn about alot of the people affected by the recession who owned million dollar houses, 4 quads, a cottage, sent their kids to super elite private schools who were making no where near the amount of money they needed to sustain that lifestyle. That's an ill informed choice they made and now they have to suffer the consequences. And ignorance, in my opinion is not an excuse or a reason to feel sorry for these people.

EDIT: I will add that I do think CEO's and Executives should shoulder some of the blame and that I complete disagree with the compensation packages being handed out to these individuals

And don't forget the many many people that flat out lied on their loan application to get approved. I mean... honestly... what in god's name were they thinking taking these loans?!