Posted On: September 29, 2008, 3:22 pm CDT

Posted By: D

When there is no credit available we will all feel the effects. The average american didn't cause this mess, but we are all going to feel the results of it.

I personally hate the idea of the government stepping in, but in order to help stabalize our market and markets globally, we need to do this.

Lack of oversight and a political preasures to banks helped cause this mess.

Profit driven Wall street firms didn't do their due dilligence in eating up these mortgage back securities which helped cause this mess.

Profit driven lenders threw all common sense out the window and let people in homes who should not be in those homes, which helped cause this mess.

Home buyers expecting to see the marketplace continue to drive up the price of thier homes thus giving them the idea that a ARM loan was affordable, helped cause this mess.

The problem is here. Most of us didn't contribute to it. But, we will all suffer the systemic consequences if no action is taken.