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<p>[QUOTE=&quot;chascat, post: 2628734, member: 76792&quot;]I totally agree with most of your thoughts except for one major item in that the hardest hit were the working class with families, mortgage payments, and a lost job.&nbsp; These situations numbered in the 10s of millions nationwide and affected all but the most wealthy areas of the country.&nbsp; The majority of the people took large losses, but that wealth was only on paper anyway and didn,t exist in the first place. There,s not a lot of room for error for the people with poor financial balance today.&nbsp; The lending policies in practice were fundamentally flawed and responsible for most of the collapse.&nbsp; For a very short time, banking policies were monitored, but I see now that the major banks, in order to stay liquid, have returned to their former tactics. The new borrowers need to know and understand the situations they,re in and have a survival plan for the future. As you mentioned, a lot of people are overextending their means without a rainy day cushion for future financial turmoil. It,s amazing to me that people either forgot or simply don,t care about what happened 8 short years ago.&nbsp; Some will never learn.[/QUOTE]</p><p><br /></p>

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