Wamu-biggest Bank To Fail In Us History!

[gja1000]

Originally Posted by HALEY

... I really don't understand what people are thinking when they get all these loans that they can't afford, do they think they don't have to pay them back or what???

Yes! I'm convinced that many people KNOW they won't actually have to pay back the loans. Just listen to the commercials for debt reduction, e.g., "YES, you will only have to pay back pennies on the dollar of what you owe"!!! I hear that several times a day on both radio and TV. So, why in the world would people think they will really have to pay back the loan, when they hear that they won't. Also, anyone can (well could) get a loan, you hear those commercials too - "You CAN buy XXX even with bad credit!" I hear that too every day - so why in the world are we surprised that we are in this mess.