Wednesday, October 08, 2008

Why We Needed the Bailout

SNL hit the nail on the head with our current economic problems...too bad that we'll never hear that it's our fault for abdicating all responsibility and blaming banks and "predatory lenders" when times got tough. Nope, it can't be our fault, we're just doing what we're told and then feeling like victims when our schemes don't work out.


Michael Brady said...

i was disappointed during the veep debate when both candidates were asked "are the people to blame, or the banks?" both (palin was more explicit) blamed the banks. surely, there are those who go into banking to make MONEY and dont give a damn about their fellow americans, so i heartily agree with propositions of regulating the industry to keep those kind of people in check. but come on! you BET, those who borrowed over their heads are equally to blame.

lawyers can garble the fine print and make loans attractive and confusing to the point that "joe six-pack" will jump at the chance to sign the dotted-line, but joe six-pack also needs to know that if he makes $20k per annum that a $250k home is out of the question.

i spouted off in a previous comment about how worldly americans are, so i will spare you this time. but yeah: we are worldly!

Scott said...

That video was hilarious. Our current situation, not so much. of course that often makes the best grist for comedy.