Reply #6: absurd

[sepulveda]

questioning capitalism because it can be abused is of course absurd.

the mortgage practice, and other aspects of the banking industry help people build wealth (historically, home ownership is phenomenal longterm investment, and more american families have built wealth withhomes than any other single investment).

the fact that there are (and ALWAYS WILL BE) abuses within the system is not the reason to throw out the sytem

what system works BETTER than capitalism (i've never seen one)?

how else are people going to buy houses w/o mortgages?

the fact is there were some abuses. the other fact is that many people did overextend, overleverage, engage in speculation (vs. investment), buy WAY more house than their income says they can afford, etc.

was there a lack of regulation? yes. are there problems with, for example, extending "no doc" loans? of course.

i am sorry, but the blame lies in BOTH camps.