Comment: Repay the loan

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Repay the loan

Too many people forget or just don't know that a major reason the country went in to a recession is because the housing market crashed when businesses, banks buying up the mortgages went bankrupt. The reason they went bankrupt is because they were not able to recover the money that was owed to them. Homeowners were/are being foreclosed on all the time because they can't pay their mortgage. The banks are partly to blame for this because they gave the people the money in the first place, they were the ones to trust the homeowner to repay the loan.

However, it is mostly the homeowners that were trusted to pay back their loans and didn't that are at fault. It is easy to blame big corporations, for problems that aren't easily understood, and the politicians would never say it was average joe's fault. But when it comes down to it, it is average joe's fault.

I see this post as a sign of things to come. School loans will be the next big bubble to burst, because the entitled don't think they need to repay what was loaned to them. But don't worry, the fed will print more money to prop up this new system of entitlement, and remember "No private citizen is directly hurt if I default on the loan" says the poster's friend.