What is the root cause for the American financial crisis, the Gov, or the Citizen?

What is the root cause for the American financial crisis, the Gov, or the Citizen?
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1 Answer

Answer :

The Government supported even encouraged predatory lending practices that allowed anyone with a beating heart to get a housing loan. Once the loan defaults started popping and vacant homes started piling up the housing market bubble burst and banks began to struggle under the weight of all the bad debts they were holding. Once the banks collapsed so did our economy and the Government had to intervene to help clean up this mess they IMO are wholly responsible for. Though you can point a finger at the Shmartnicks who borrowed money that they even in good times could barely afford. What were they thinking??
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