What happened to accountability?
Contributed by Wordstock16
Twenty years ago we bought a house. We had to explain a bad credit rating. We had to justify my husbands bankrupcy. We had to have 20% down and meet the income percentage. 10 years later, we lost the house. We made bad credit choices. There was no one there to bail us out. We had to dig ourselves out. We were accountable.
Today, no one is accountable. People bought houses with nothing. They made creative deals and then said they didn’t understand. Big banks got loans that they do not have to account for and major corporations lost money that came out of others retirement funds.
Where is our voice in all this? There’s a lot of talk and no action. Does our government think that there is no one out there who cares? Believe me, I care. I am still accountable to the people who collect taxes from me to fund these givaways.
Amen! I’ve always had to suffer through and learn from my own financial blunders and now everyone wants a bailout when it gets tough. Most of these people knew they couldn’t afford an interest only mortgage with no money down. I’ve lost a house too so I know how it feels. It was because of my own foolish behavior and there was no bailout. We had to just get out and move to the only place we could afford. I feel for people who have lost their jobs in this economy but not those who expect me to make their house payment because they bought more house than they could afford.
Tyla Mac
January 3, 2009 at 6:43 am