Posted by jrd_x on 5/24/2012 1:04:00 PM (view original):
No, they absolutely should. But people are dumb and they are always going to try to get more than they should, especially when the credit is easy to get and seems cheap. It's up to the banks who are underwriting the deal to use discretion.
btw, do you respond to every post with a question when you disagree? Are you incapable of just saying that you think people should take personal responsibility?
I already did. in my 10:27am post. Did you read the entire post?
Both sides (the banks and the public) share the blame. The banks for making loans to people who cannot repay them, and the public for taking out loans that they cannot repay.
I'm going to go on the side of the public being more responsible for digging themselves into their own financial mess. The banks may be the enablers, but the public are the ones pulling the triggers.
5/24/2012 1:15 PM (edited)