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View Diary: Republicans have no clue how people manage their budgets, Part II (94 comments)

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  •  Ignorant is a better word than stupid. (7+ / 0-)

    When a society doesn't actively teach people how to navigate a banking system that willfully misleads its customers, I wouldn't consider the people who jump on the band wagons "stupid" - if people are expected to know how to navigate that system when the experts have an agenda, they have to be given a clear and consistent diet of good information and training. That's a societal issue.

    •  And, of course, people who were worried about it (3+ / 0-)
      Recommended by:
      AoT, MPociask, DSPS owl

      were assured that the prices of houses were continually going up, so that A) If they had trouble making the new payments when the ARMs adjusted, they could easily refinance with the equity they'd have because the value of the house had gone up, or B) In the worst case scenario, they could easily sell the house to cover the loan, and C) If they didn't buy now, it would be even harder in the future when prices were so much higher.

      -7.25, -6.26

      We are men of action; lies do not become us.

      by ER Doc on Thu Mar 21, 2013 at 12:10:04 PM PDT

      [ Parent ]

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