>>>Matt Taibbi cuts deep again...
>>>
>>>http://www.rollingstone.com/politics/news/17390/232611
>>>
>>>The final paragraph:
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>>>When you meet people who are losing their homes in this foreclosure crisis, they almost all have the same look of deep shame and anguish. Nowhere else on the planet is it such a crime to be down on your luck, even if you were put there by some of the world's richest banks, which continue to rake in record profits purely because they got a big fat handout from the government. That's why one banker CEO after another keeps going on TV to explain that despite their own deceptive loans and fraudulent paperwork, the real problem is these deadbeat homeowners who won't pay their fucking bills. And that's why most people in this country are so ready to buy that explanation. Because in America, it's far more shameful to owe money than it is to steal it.
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>>Its all about size.
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>>If you owe the bank 10000 and can't pay you have a problem.
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>>if you owe the bank 10000000 and can't pay they have a problem.
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>>The only good thing that could come from this is people thinking more about the system they live under and maybe changing it.
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>>I
>
>Nice of you to look at the situation in the USA and not provide stats from Ireland, Portugal, Greece, Haiti, Africa in general, eastern europe, And of course the stats are carefully hidden in communist countries. etc.

That's not a very good defense IMO. Nothing can make the big U.S. financial institutions look anything but repugnant. They are right back making record profits and foreclosing as fast as they can, even with unemployment remaining high. I am not absolving borrowers from getting in over their heads with mortgages they should have known they couldn't afford, the so-called "liar loans" that were so prevalent during the real estate boom. That doesn't make the banks and other lenders blameless by any means. You can bet if there were no Freddie or Fannie they never would have made a lot of those loans.