lizabeth Warren - The Two Income Trap:

[Qtec]

A reality check for many here. Just watch the first 10 mins.

link (http://www.youtube.com/watch?v=8GHg3GAeQ1Y)

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Elizabeth Warren discusses how the dreams of the middle class american family are being depleted by the dramatic increase in bankruptcies and foreclosures. Warren discusses the role that credit card companies and ballooning interests rates have played in rapidly increasing mortgage rates <span style='font-size: 14pt'>as well as the how the over consumption myth is clouding our understanding of the average middle class family, who is in fact experiencing a lower standard of living than their parents and still finding themselves one payment away from losing their home.</span> </div></div>

Q

[Qtec]

Reality check for eg8r.


Q.. The Lose Your Home Industry (http://www.youtube.com/watch?v=cmEgHSk5k6A&feature=relmfu)

[eg8r]

Great, so back to my point, people were getting into stupid mortgages that they never should have signed onto. If you are too dumb to read the contract and see what you are getting into then that is your fault.

The difference between the two of us is that I blame both parties and you only blame one. One day you will try out honesty and recognize the difference.

eg8r

[Qtec]

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">The difference between the two of us is that I blame both parties </div></div>

No you don't.

Q

[eg8r]

Sure I do but you don't listen. You are already blowing the horn on the evil banking and I remind you they are not the ONLY one at fault. By stating the fact the individual is ALSO at fault I am admitting that I believe BOTH parties are at fault. You have never gone that far. That is the difference between us. I blame both and you are too dumb to recognize it.

eg8r

[Gayle in MD]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">The difference between the two of us is that I blame both parties </div></div>

No you don't.

Q </div></div>

Absolutely! None of them blame the corrupt Mortgage Industry, the corrupt banking industry, or the crooks on Wall St., for anything.

Didn't you know, it was all because of Fannie Mae and Freddie Mac, along with the poor, and the Community Reinvestment Act!

The fact that even lawyers could decipher the mortgage contracts, had nothing to do with it! LMAO!

The fact that even Alan Greenspan, said he could figure out the Wall St. convoluted exotic loan and banking and insurance exotic financial instruments, had nothing at all to do with it!

LMAO!