I always hear the economy sank once people defaulted on their home loans and that they would have never qualified for a loan in the first place had it not been for sub prime business.nnSo who supported giving sub prime home loans, and aren’t they to blame for the tanking economy?

Sub-Prime Loans: Said Income (nothing to back it up), Interest Only, ARM’s, Balloons, and you quickly signed on the dotted lines that you would repay……………Why are they crying now? What did they think would happen if you “Bet on the Come”…..and the “Come does not Come, and Turns South.”….???? Was anyone at Home here? Why do they want our country to bail them out?

Didn’t you ever wonder where all that money was coming from to write all those worthless sub prime loans all those years?nnThanks to all those republicans (John “Keating 5″ McCain) who removed all the regulations (laws that protected the consumer) these Republicans went nuts creating worthless loans that they then sold to China as “investments” in American mortgages.nnI think we MUST seize each penny of their personal and corp assets and put them into prison too!nnIncluding McCain.

What are sub-prime loans, anyway? Any advice would be appreciated.

How are sub prime loans, the US mortgage situation, the credit crunch , Northern Rock and the loss of city jobs related ?why is this all very important? and what does this state about the state of the economy?