Many share blame for financial crisis

Bernie Sanders and many others blast the system for not prosecuting the heads of the financial institutions for the housing dilemma. Maybe they should be, and I will accept that argument when the rest face the same charges.

Who are the rest — several presidents, and the U.S. Congress and the former CEOs of Freddie Mac and Fanny Mae for a start? These are the people who said everyone should own a house and relaxed the underwriting rules to put these unfortunate people in financial binds.

This group of people said credit scores are not important and we will not check employment status so you had many examples of buyers making $40,000-50,000 a year, with a family buying $500,000 houses.

Sad, yes but today we hear the government wants to again relax the underwriting rules; do we never learn?

Then the government forced or used cohesion on many banks to assume liabilities of mortgage companies and banks such as Washington Mutual and Countrywide, to name a few that went bankrupt, and then sued these takeover companies on how they handled the foreclosure.

If you want to blame someone be sure it is all inclusive.

This story was originally published February 19, 2016 at 10:19 AM with the headline "Many share blame for financial crisis."