Letters to the Editor
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Greedy Lenders????
Capitalism is greed - if you don't like it become a Socialist - that’s fine. Just don't expect a Capitalist enterprise to behave like mother Theresa. Capitalism is about making as much money as possible as quickly as possible. If you pass out cheap money and you don't regulate how it is distributed then you get exactly what you got. It has nothing to do with the ethics or morals of the lenders. If one Lender had refused to do these loans then someone else would have done them and the non "greedy" Lender would have gone out of business. The Lenders are only to blame if they broke the law. It is not their job to act like moral guardians. That’s the job of our elected leaders. FDR understood this. Lenders like any other Capitalist can legitimately push right up to the boundary of the laws. The people to blame are the ones who made cheap credit available and provided no regulation of how it was to be used. Stop scapegoating the mortgage profession, the blame should be directed at Bush and Greenspan.