Who do you blame for the housing crisis?

Mortgage and Lending with DMI Financial Inc.

I was just emailed an interesting video this morning and here is the link to that video www.thinkbigworksmall.com/mypage/archive/1/54335/  that blames current New York State Attorney General Andrew Cuomo for our current housing crisis. Do you think this is a fair statement?

Comments (5)

Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

I think there is a lot of blame to go around and that it shouldn't be blamed on any one thing.

Oct 25, 2010 03:53 PM
Matt Grohe
RE/MAX Concepts - Des Moines, IA
Serving the metro since 2003

Michael: With the millions of loans made by dozens of companies under the auspices of a number of regulatory agencies to blame one person would be folly.

Oct 25, 2010 04:01 PM
Franklin & Brentwood, TN Homes Mike Nastri
Keller Williams Realty - Franklin, TN
It matters to us as much as it matters to you.

These guys seem very reputable I would believe EVERYTHING they told me.  I have heard the blame Cuomo story before. It is too easy and convenient to blame the working class and the easy credit conditions that existed, but it was only part of the story.  It was not the failure of these loans as much as the over-leveraging of these loan products that caused our economy to implode.  When the money players can make unregulated bets many times greater than the value of the collateral on which they are betting and companies insure these bets(AIG) without capitol to cover them, it is a disaster waiting to happen.  And it happened and we still have not reformed the cause.

Oct 25, 2010 04:10 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

MIcheal - It is hard to blame one person for such massive problem.

Oct 25, 2010 05:49 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Michael, I think it's a collective effort that brought down the economy....one person cannot do this kind of damage...

Oct 25, 2010 06:07 PM