tag:blogger.com,1999:blog-27756009.post5635698269684428617..comments2008-10-14T07:39:16.761+01:00Andyhttp://www.blogger.com/profile/18323840730013600607noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-27756009.post-41205541594314205772008-10-14T07:39:00.000+01:002008-10-14T07:39:00.000+01:00meant to add re: fear - <BR/><BR/>yes the fear makes it worse. but can you blame people? i mean, if it was your money draining away before your eyes, wouldn't you be scared?<BR/><BR/>i'm lucky as well in that we own little and owe little. but i do worry for my family, like my mum, who doesn't have a huge cushion of reserves. she's not living beyond her means at all, but her retirement funds are at risk, and she's now 61. that's a worry for me, definitely.<BR/><BR/>anyway, i'm not saying anything you don't already know, so i'll shaddap. ;)jenhttp://www.blogger.com/profile/00096399788929322183noreply@blogger.comtag:blogger.com,1999:blog-27756009.post-29406334783387156722008-10-14T07:30:00.000+01:002008-10-14T07:30:00.000+01:00well, yeah, SOME of it is because people were living beyond their means.<BR/><BR/>yes, banks were practically giving away mortgages with lollipops, but no one forced people to take them.<BR/><BR/>but MOST of it has to do with stuff the average consumer had absolutely nothing to do with, like mortgage backed securities and credit default swaps. while defaulting on mortgages was the initial catalyst, the massive domino effect was all about the lack of regulation for these financial instruments. and the fallout is hurting millions of innocent people, who are suddenly finding their "safe as houses" retirement funds are no longer worth as much as they initially put in.<BR/><BR/>so yeah, some of the blame lies at the feet of the people who took loans they couldn't afford long term.<BR/><BR/>but a helluva lot lies elsewhere...jenhttp://www.blogger.com/profile/00096399788929322183noreply@blogger.com