What is the cause of the US financial crisis? I know McCain blames greed and Obama blames lack of regulation.?

But what did they technically do wrong?What is the cause of the US financial crisis? I know McCain blames greed and Obama blames lack of regulation.?Gave mortgages to people who really could not afford them , this would not be an issue if house prices continued to rise but they didn't. So now there are loans on house for more then they are worth. Many of these mortgages were combined together and further invested in , thus again when the house prices declined ......



Greed and less regulations. Greed , giving these loans to people so that the "books" would look great , thus more bonuses. Less regulations , government incouraging these risky loansWhat is the cause of the US financial crisis? I know McCain blames greed and Obama blames lack of regulation.?
Lack of regulation encouraged greed.What is the cause of the US financial crisis? I know McCain blames greed and Obama blames lack of regulation.?deregulating allows all crimes to become legal.



deregulation caused all of this.





McCain involved in the collapse of 747 Savings and Loans (Sound familiar? See a pattern here?)

http://en.wikipedia.org/wiki/Keating_Fiv…



McCain Campaign manager #1 Freddy Mac lobbiest

http://blog.newsweek.com/blogs/stumper/a…





In 1999, John McCain's former financial adviser Phil Gramm was responsible for unwinding the Glass-Steagall Act of 1933 which allowed all of America's 401K money to be lost in the sub Prime mortage meltdown.







Deregulator McCain

http://www.huffingtonpost.com/2008/09/23…What is the cause of the US financial crisis? I know McCain blames greed and Obama blames lack of regulation.?
The Federal Reserve Bank lends money manufactured out of thin air to other banks, who lend it out to consumers. Our entire economy is based on consumer debt rather than anything of value. When borrowers find themselves unable to pay due to a failing economy caused by a "scheme that confiscates wealth through inflation" (as former Fed chairman Alan Greenspan put it), the entire system collapses.What is the cause of the US financial crisis? I know McCain blames greed and Obama blames lack of regulation.?They basically gave out loans to almost everyone regardless if they could truly pay them off. It showed alot of profit at first but then people started foreclosing on their homes and now the big businesses that gave these loans are screwed because they own all these homes and banks do not want to own homes because they wont make any money from them.What is the cause of the US financial crisis? I know McCain blames greed and Obama blames lack of regulation.?
The cause of the problem is social engineering, the effort of some of our elected “representatives” to force mortgage lenders to make more money available to low-income, high-risk borrowers.



Why didn’t our elected idiots say we needed to INVEST in low-income people so they could rise out of poverty and buy the homes they wanted? Why did our elected “representatives” force our mortgage lenders to lower their credit standards so more low-income people could “own” a home?



Our elected imbeciles made it possible for low-income people to buy their homes, but they didn’t do anything to help them pay for those homes. Now, you and I own those homes. And NOW we will pay for them.



Look at the value of YOUR home. If it’s 20 percent or more below its previous market value, call your Representative or Congressman or –woman and ask them why they had us co-signed the mortgage loans of those THEY forced our lenders to give to people who couldn’t afford to buy their houses. Maybe they couldn’t afford to pay, but YOU can. And you WILL.


Regulators plot with bankers to encourage greedy peoples to take credit and speculate in properties which are too expensive for them.

High credit has made these speculators poor and suffered losses when properties price slum.

But the most innocent parties are the debenture and loan stock holders for the bankrupt companies who lost their life savings because of this international financial scam.