Buffett blames banks for credit crisis (Who's fault is it?)

The richest man in the world, Warren Buffet recently said, "Blame for the sub-prime crisis lies at the feet of banks who took too many risks in mortgage lending." You don't need to be the "Oracle From Omaha" or a Billionaire, which Mr. Buffet is, to see that Banks; Credit cards, Car Loans, Home Loans and various "predatory lending transactions" threaten America's financial Security. My opinion is that banks have been poorly regulated, allowed to make and change the rules of lending to suit them and this has hurt the U.S. borrower in ways that we have yet to experience.As Consumer Advocates and Debt Warriors, we get our fair share of people trying to leave us nasty comments. These people say uneducated things like, "just pay your bills". These people blame so called "dead-beat borrowers" for the credit crisis. Of course, I always respond with facts and I try to respond respectfully. What's your take on the credit crisis? Who should be held accountable for the credit crisis? Do you think the banks are at fault for the credit crisis, or do you think that "dead-beat borrowers" are at fault? Leave your thoughts by clicking 'comments' below. To read the full context of the article, on your mouse, right click 'read more' to open the full article in a new window.

read more | digg story