Quote:
Originally Posted by Hitchens
[You must be logged in to view images. Log in or Register.]
Some lost their homes due to no fault of their own through predatory lending and a tanking economy.
|
If you lost your home, in what universe is it not your fault? Why do they get to blame external circumstances for a decision which, ultimately, was made by them? When you buy a home on borrowed money, you are
assuming risk, nobody is responsible for helping you out if the decision blows up in your face.
Some people managed that risk better than others by exercising fiscal responsibility-- saving their money and investing. Overwhelmingly, these were the people who made it through the crash with their homes.
Predatory lending? Nobody showed up at their door and forced them at gunpoint to take a low money down, high interest rate loan. By that logic Coca-Cola is engaging in predatory vending because their machines sell sugary drinks that damage your health and people buy them anyway.
This isn't lovely stuff to hear, but it's one of the fundamental principles of capitalism-- personal responsibility.