While there was certainly a good amount of fraud that went on (as previously covered)... there was also a certain number of people that bought more than they could afford on the "interest only" type loans, thinking they would just take care of it "later".
Now, are these types of loans shady? Yes. But if you are going to be greedy or personally negligent, then is it someone else's responsibility?
The problem with tossing people in jail it that there are at least two different groups that were affected, and in one group you would be jailing people that may not be as responsible.
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Date: 2011-02-22 02:03 am (UTC)Now, are these types of loans shady? Yes. But if you are going to be greedy or personally negligent, then is it someone else's responsibility?
The problem with tossing people in jail it that there are at least two different groups that were affected, and in one group you would be jailing people that may not be as responsible.