Mortgage crisis  

the beset way is to start saving money at homes and things will start getting settled down.. everything should not be done with plastic money .. that also causes one of the hidden problems..

Hmmm, intersting take on it. It is acurate....sort of, but it is also very incomplete and onbly a tiny fragment of the problem, in fact it was more a symptom of a bandaid on a problem.
The problems that led to the crisis are complex, long reaching and very intertiwined. Much of it is based at a much deeper level. W start with our federal monetary system as a whole, which isn't really money at all and isn't really federal. It is a system based on a house of cards and nothing of any real solid value, it is all based on debt and promise.
Throw in a history of very clever people who set it up and contributed to it's build up, way back in history.
Also it isn't so much a problem of not enough regulation or even too much regulation, it is too much of the wrong regulation, applied ad hoc in half arsed and far too complex a fashion.
Tell ya what, if you want to understand what happened and how our monetary system was altered to fail, check out a movie called "monoploy men". It comes across as a bit tin foil hattish, but it mkes a lot of valid points and gives a lot of good indepth information in to this complex managery we call "money" today.

I think people are not taking personal responsibility for purchasing homes they couldn't afford. Now of course it wasn't that only cause. I believe there were predatory lenders, I believe that banks should not have offered no qualifying and no documentation loans, I believe that banks shoulder some responsibility for approving a $300,000 loan for people who made 30,000 a year. But there are not enough people admitting to their own participation in the crisis. When all was said and pitched to them and done they have as responsibility to realize "hey I can't afford these payments" and make the decision not to be talked into a contract I couldn't honor. I think don't support a lot of bank regulation and government oversight. I do support personal responsibility.

I don't know who was the "cause" of de-regulation or when (or even if) that is how it happened. But it does seem to me that the banks can't be trusted to regulate themselves...The only problem is, I'm not certain if our government can be counted on to do a better job. My understanding (from an article I read) is that those in our government who were supposed to be overseeing the banks weren't doing their job with the amount of regulation that was in place!

So...I don't know what the solution should be.

i heard it was too much regulation, namely pressure by the left politicians to give loans to those who really couldn't afford it or couldn't pay back or keep up.. as even having a job wasn't required. I say let the free market operate, it's not perfect, but government involved in everything just makes it worse. The economy took a dive too after 6 years of economy bashing by the media, finally everyone believed it.. that and the oil prices and corn prices going up, due to global warming hype.. then in 2006 the dems took majority in houses and voila.. economic woes. Big Bro is not the answer, just the opposite!

I'm not sure why some still insist it was deregulation. The banking crisis was cause be people who failed to make payments on their loans. The biggest example of this problem was the ridiculous number of home foreclosures. That said, we need to figure out why so many people got their homes foreclosed on.

That was caused by ACORN bullying banks to give home loans to people that wouldn't qualify under the standards typically used by banks. Since many politicians were in ACORN's pockets they rushed on this initiative acting as though home ownership was some sort of civil right and forcing banks to give loans to these people who intelligent bank execs knew were extremely high risk. The government basically told them "we've got your back".

So naturally, we had people who were barely making their payments, and eventually, they were able to make payments less and less frequently. Then foreclosures just went through the roof. Banks lost massive amounts of money throughout the country and of course, turned to the government that pushed them to make these foolish loans. That's where the bailout comes into play and the rest is history.

How do we prevent this from happening again? Tell our government to butt the he1l out of private business, ESPECIALLY BANKS. It used to be you had to make a 20% down payment on a house. If you have enough standing cash to make a 20% down payment, there's very little doubt you'll ever struggle to make payments.

Every business the federal government runs is crippled. Just look at Amtrak, the USPS, Medicare, medicaid, cash 4 clunkers, etc. We need to keep their hands off the banks.

there's a good documentary that gives a good explanation.

House of Cards.

http://www.cnbc.com/id/28892719

if you look for it, there's a link to the full program.