Search SEARCH

Who do you most blame for the current crisis in the housing market?

a: Wall street b: Politicians and Executives at Fannie Mae and Freddie Mac. Please state why you believe you are right.

Asked By: Hilton - 7/11/2011
Best Answer - Chosen by Asker
Not Wall Street... More
Answered By: Karen - 7/11/2011
Additional Answers (8)
c: ALL the People who could Never afford the Houses They Bought in the FIRST Place..! :(
Source(s):
Answered By: Joseph the Second - 7/11/2011
 
Bill Clinton wanted minorities and low income people to be able to buy homes So he made the banks relax their standards on giving mortgage loans. This brought us the sub prime lending scheme. Many of the people who got these loans later defaulted on them. Before Clinton relaxed the rules you had to have good credit... More
Source(s):
Answered By: Jimmy - 7/11/2011
 
People who want to live beyond their means. American people believe in charge, charge, charge. Now it has come to pass that all of this spending has brought chaos. Not only minorities or others who have... More
Answered By: eugene j - 7/11/2011
 
Local city councils and their developer friends - at least here in the West. City councils couldn't approve housing developments fast enough. Even in the Inland Empire (which now has the highest foreclosure rate in CA) the homes were priced at $350,000 and up and you had to wonder who could afford to buy all those... More
Source(s):
Answered By: Mujer Alta - 7/11/2011
 
Wall Street! They are the ones that created the vast financial schemes that brought this country to its knees and even today, keeps us there. It is those greedy, preplanned, Wall Street executed financial “schemes” that bloated the housing market and allowed them to make billions. It is they who crashed the economy... More
Answered By: firefly - 7/11/2011
 
The sale of mortgage backed securities and insurance on defaults in these securities were a pure product of Wall Street. Lehman Brothers, JP Morgan, AIG etc invented this crap. The rest just leaped aboard. We baled some of these folks out. Who's heard AIG say "Thanks."
Answered By: Joeseph Doakes - 7/11/2011
 
As the first answerer Joseph said above, c - stupid, money grabbing, short-sighted people.
Answered By: Superdog - 7/11/2011
 
Years ago people were making money by getting mortgages for people who had visible problems in paying them back. They would grant mortgages even without checking what the person claimed that there income was.
Answered By: faizah - 7/11/2011
 
Sponsored results
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Jobs.Quick-com
Work At Home Jobs Make $87/HR, Jobs Seen On TV. Jobs Hiring Now
www.HomeJobs-Finder.info
Drive Your Car - Make up to $600 Per Weekend. Work When You Want.
uber.com/Sign-Up-Now
Up to $47/hr Part-Time Job Openings. Free Schedule, No Scam. Start Now
wahm.com/jobs

Other Career Questions

What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook Article Rating
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-217
eTrustLogo