they gave loans to people that shouldn't have a 300,000 dollar loan... that is Clintons fault, plain and simple...
That's like crack heads getting crack from a crack dealer and blaming the president for making crack legal.
It's not "Clintons fault" for promoting/pushing loans on people that couldn't (or didn't want to) understand the fine print of what they were getting.
At best, banks wanted to take advantage of big institutional investors, and used poor/middle class people as a means to do so.
Regular and poor people took advantage of banks to rise up the socioeconomic ladder.
Clinton took advantage of poor people and banks to get reelected or for a legacy or image, or pork, or just because he's a democrat.
At best it's everyone's "fault."
if i'm making 25,000 dollars a year, how am i going to afford a 300,000 dollar home, electricity, groceries, and a 20,000 dollar car loan?
Theoretically, if you're a free thinking, independent, self reliant, responsible American you see you're making 25k a year and don't try to buy a 300k house and a 20k+ dollar car. Instead you rent, keep your costs as low as possible, while attempting to increase that 25k to 30, 40, 50, 100, until you can afford what you want. Minimize outflow, maximize inflow. You're "making it" if the latter is higher than the former on a daily, weekly, monthly, quarterly, and yearly basis.
Very simple equation.
Someone chasing the faux-American-dream
That's part of the problem.
What's the American dream?
Has nothing to do with housing.
It's maximizing potential.
Breaking rocks in a mine but you have a super drawing ability for making turtles on matchbook covers?
Borrow money and go to art school! Freedom of opportunity to pursue what you feel is your potential.
Don't worry, you can pay it back with future earnings!
People earn more with a degree!
That's the problem.
That's inherent to the current system.
Save now, buy later, demand value. That's icky.
Borrow now, demand little value, invest, pay it later, borrow more, demand a little more value, pay it later, borrow more, etc.
Ask forgiveness rather than permission, better to have positive results to prove you did the right thing so you don't have to ask forgiveness, you can then assume you have permission for anything.
No difference.
Banks = mortgage poor people now, they'll find some way to pay it off later, insurance will cover it, income and asset appreciation will offset future losses.
Poor/people = borrow lots now, real estate only goes up, wages only go up, earning potential only goes up, can't lose.
"Clinton" (government) = "wealth effect," give people homes and money and security now, they'll spend more, add to the economy, which means they'll make more, so they'll spend more, and add to the economy, ad infinitum, and that equals forever growth and the rising tide that lifts all boats.
This is just what happens with this system.
It's everyone's fault for perpetuating it.
No one's fault because no one institution (people, business, government) can change it. At best crash it and wreck it enough to warrant replacing it. At worst just pick up the pieces and do it all again in some other fashion.
