Who Should Be Responsible For Bad Credits – You

John McCain gave a campaign speech yesterday and commenting Bush’s Administration’s policy toward current default bank situations and credit crisis. – By the way, I am supporting neither the Elephant nor the Donkey party, that’s not my emphasis. The point McCain stressed out was: The government should not bailed out the failing banks and individuals who are not responsible of their own failing credit problems.
Clinton and Obama in this case, did not blame the Administration, on the contrary, they both indicate will give more to those in troubles – That’s typical Democrats.
What really puzzle me is that : blame it all to the unscrupulous lenders for their dishonest practices, but YOU, as a consumer, why you signed the purchase contract when you know you don’t have money to pay?
No one eats up tomorrow’s meal today and knows that his/her supplies are out.
I don’t think our society works this way before. I mean, All trades are based on TRUST. And in real estate, we have a phrase, when purchasing, “the buyers should be WILLING AND ABLE”,  ok, we blame it all to bad lenders who use schemes and “force” YOU to buy. But can you sleep when collectors and foreclosure mails are up to your faces and want their shares?
90% of homeowners when they purchase theier homes, would even think that they will skip and forget to pay their mortgage at all, let along to have such a disgraceful moment happened.
It is estimated that there are one billion foreclosure cases in the nation right now. We are far from over, the market will need to find its landing point before we can catch a breath.
Tighten up your belt, America, 2008 is a tough year!

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