I don’t understand how come the media seems to give a lot of mercy to the subprime borrowers???? They have bad credit and borrow with zero down. They have nothing to lose if their houses are being foreclosed.
It is due to poor/non-existent financial education in high school combined with traditional liberal arts degree weak in hard science/math or business. It may also have something to do with authors of those articles not wanting to spend the time and check the facts.
Many people think that having the government spend more on specific services will not effect them in the pocket book.. forgetting where the government gets their money in the first place. If the gov spends more, it has to collect more (in taxes).
