What is happening with the subprime mortage crisis? Well, as usual, it is not the people who took out these loans drawing criticism, its the lenders. If a politician came out and told the truth and said that people overspent and bought too much house and they were idiots, which is the truth, he would almost certainly be voted out with the next election. So instead, the politicians are blaming the lenders so that can procure votes through the old "its not your fault". Look, if you took out one of these loans and are now struggling to pay it, I hope you lose your house. Maybe then you'll actually learn a lesson. If you can't handle the pressure, I hope you committ suicide, you are a burden to society. Live within your means, you'll be a hell of a lot happier than always trying to keep up with the Joneses who are maxed out on every credit card, have car loans they are paying 15% on and houses that they have second mortages on and no equity. I got news for you, most people are prbably not finacially comfortable until their 50's. Your parents have a big house and drive nice cars because they have worked for thirty years and it is upsurd that you think in your twenties or thirties that you should have everything they have. Stop burying yourself in debt.
Read more about the subprime fiasco here: