Raging Right Wing Republican

For those of us who are politically informed, and therefore Republican.

Sunday, April 13, 2008

Obama: companies "tricked" families into homes they couldn't afford

Apparently it's the company's fault when somebody messes up, instead of it being the responsibility of the customer to find a good deal.

Nobody put a gun to their heads and made them sign the contracts. Now we have to bail out the people who overextended themselves financially?

These people who were caught in the housing crisis originally managed to make out like bandits by signing their homes to mortgages that were almost completely based on future interest rates. While they may have appeared to be decent at the time, everybody knows that interest rates change, and can change for the worse.

That's the price you pay when you take a deal that involves a large amount of risk in it.

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