CNBC's House of Cards

xavier mcdaniel

Just finished watching this documentary that explores the root causes of this economic crisis. Now me being somewhat fiscally conservative and not having a family, I didn't get involved with any of the lending agencies. My only loans are small ones for college. But the way all of this went down from Wall Street to all the mortage companies and to some extent the homeowners living beyond their means is appalling.

And the worst part is that none of our elected officials stepped in to say these things were wrong. In some extent it's just as bad as the security failures that allowed Sept. 11 to happen.

Having said all that, it was a very interesting documentary that fully explains how the country landed in this mess.

CHANGEinWAVES

thanks.
I'll check this out.

cincybearcat

xavier mcdaniel wrote:

and to some extent the homeowners living beyond their means is appalling.

I think you may be downplaying a big part of it here.

Thanks for the mention of the doc, I'll try to check it out.

xavier mcdaniel

cincybearcat wrote:

xavier mcdaniel wrote:

and to some extent the homeowners living beyond their means is appalling.

I think you may be downplaying a big part of it here.


Thanks for the mention of the doc, I'll try to check it out.

True, on one hand you feel bad for people who were duped into this, but on the other hand you feel pissed because the poor decision-making of these people is a contributing factor to the current mess. For example, they show someone who went from Compton to Yorba Linda California. I'm all for someone who goes to work, does the right thing trying to get out of Compton, but there must have been some place nicer in the LA area that would allow them to live more closer to their means.