Who is more at fault for the recession
Lenders
Side Score: 8
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Everyday Citizens
Side Score: 5
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Good question! While people in large did act like idiots borrowing, 1. Banks let them 2. Banks were doing the exact same thing but on a larger scale, even creating fake LCC's to borrow more from... and they knew it was gonna fall down. They just didn't care because it was other people's money. So while people were idiots about it on a small scale. Banks were evil about it on a large scale. Side: Lenders
1
point
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1
point
Yet, who gave them the resources to buy frivolous things in the first place. Lending institutions don't have to lend money to somebody; they have discretionary power. The lenders knew that these people whom they were giving sub-prime mortgages to were at a high risk of not being able to pay them back. Yet, they lent out the money anyways. Side: Lenders
1
point
So everyday citizens can't tell when they need to cut back some and stop getting loans? Do they have to have someone to look over everything they do like a little kid? Many people got unfixed mortgages and could afford them when interest rates were low, but when the interest rates went up, so did their mortgages. Side: Everyday Citizens
1
point
I put the blame here, because it is the duty of ever citizen to end a wrong when seen. Can one blame congressmen and senators when the public elected them? To stand by and watch does not let one off the hook. Citizen need to be aware of their inactions as much as their reactions. The blame lies on the masses for following blindly along. Side: Everyday Citizens
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