The problem is that nobody cares. Or if they do, apparently any investor is evil even though it's been a process that has been around for a thousand years or more.
We live in a society of whiny demanding children who want nothing for anyone else - if they don't also get equal attention.
It disgusts me to no end. I grew up fairly well off, a father who made 100k+ per year and a mom who stayed at home and took care of me and my siblings. Then my father was lost, mother forced to find for herself and I - through adolescent rejection syndrome; put myself into a hole so deep that I had to claw myself out. Stuck living in the ghetto with drug dealers and other filth all around... no money to my name at all.
I worked hard and took every opportunity to get out of the situation and dragged along a wife and kid in the process. I see these people begging for money, robbing, stealing and I have been there. I have been to the point of "I need to steal to live or I'm screwed" but I didn't. Furthermore I made it work with virtually no one to help me.
Now I have money, I am trading often and I expect to be without a job once this investment truly pays off. This would not be possible without me having focused and made myself, through agonizing years in the 'hole', a better person, a success.
People do not ever think that it will be them in that poor situation and those that are in it don't think they can get out - and blame all side for themselves when it is only thyself that can be blamed for ill preparation.
Truly, if anyone in this country cared about Fannie and Freddie, I would expect a much better reaction. Granted many lies are also fed to the public, but it is still the public at large's fault for failing to recognize the partial way news is reported - and for failing to care about the lies they are fed.
Fannie Mae and Freddie mac are such a sad case to me because they are wholly abused by government, the people they were meant to serve, and even they themselves (the GSEs) have been selfish to an extent. Corruption everywhere...
At this point it's no longer an age of 'whose to blame' or 'whose at fault?' But rather - who is more at fault than the rest.
Be well,
-zargis
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