Originally Posted by
Hawkgirl
FlaGator, Back in the day, if you didn't have the cash, you didn't buy the new car. Now people will pay outrageous interest rates to get that new car, house, phone (etc) to keep up with their neighbors. If a person signed a CONTRACT with high interest rates it was their fault, not the loaners. If I am late on my mortgage I get a credit mark. There are repercussions to actions. Bailing everyone out due to stupidity or mistakes led us to the mess we are in now. Regulations didn't stop people from buying $500,000 houses with 0% down when all they really could afford was a $200K house.