I believe the situation is not one the government should really be blamed for. This crisis is one of our own making, and not anything that any one person or persons in the government brought about.

People don't want to take personal responsibility for their actions and so the government becomes a convenient scapegoat. In a free economy there are many opportunities to make a good deal for yourself, and there are just as many opportunities for you to screw yourself.

The simple fact of the matter is, that these people made bad choices, mostly because they wanted a shortcut to that bigger, better house. They didn't do their research, and didn't take the time to understand the risks involved in an interest only loan, or an adjustable rate mortgage with a balloon payment, or any of the other pitfalls that can occur when you take the fast track. Look at the areas hardest hit--California, Nevada. Places with overinflated property values. You have people buying homes that are 3x the price of the same valued home elsewhere.

As a buyer, it's your responsibility to make sure that you understand the market. You can't blame it on your Realtor, or your Mortgage Broker or your lender. They are only going to approve/disapprove what you ask for. They let you know what your options are--but the real control is yours. If you don't think you can afford the mortgage, then don't buy the home!

When my brother bought his house, he actually went through two or three Real Estate agents. Why? Because they kept trying to show him houses that were really out of his price range. He stuck to his guns and his budget. He used an adjustable rate loan to get into the home, and then refinanced a year or so later to get into a fixed rate mortgage.

No one made these people sign their name. No one prevented any of these people from asking questions about their loan or shopping around to get two or three different quotes or more on different products, or attending real estate buyer classes to get a better understanding of what you can get yourself into. People want to rush through buying a house, because they want the result without given thought to the cost or consequences.

The bottom line is, these people made their own choices--and now want the government to step in and pick up the check now that the bill's come due.