AIG, Alan Greenspan, Bailout, BankofAmerica, BearStearns, Citigroup, Congress, Credit Default Swaps, Derivatives, Fannie Mae, Federal Reserve, Foreclosure Crisis, Freddie Mac, JP Morgan Chase, MERS, RESPA, Securitization, Sub-Prime, TILA, Title Insurance, UCC
-Richard Zombeck, from the article: There’s a good reason why homeowners are being blamed for this: It’s easy and the banks tell us to blame them. The simple fact is no one wants to understand and wrap their head around things like securitization, mortgage backed securities, credit default swaps, derivatives, collateralized debt obligations, and the rest of the mathematically complicated financial products that blew up our economy. Who would? The people that are to blame certainly don’t want to explain that to the rest of us, so they tell us it’s all about deadbeat homeowners and people dragging this country down by not paying their bills.
After all, it’s much easier to blame your neighbor, sit your sanctimonious ass down, and watch “Dancing with Stars.”