When you deregulate an industry like banks and Wall Street, you're basically saying "We're not going to give you guidelines to follow, nor can we enforce any you may agree to follow on your own. We trust you to be honest and fair." And when it comes to greedy corporate executives, it's all about profit, no matter who you fuck over to get it.
Yes, people who couldn't afford loan payments should never get a loan in the first place. But if we had regulations on the banking industry the way we did before Reagan, those banks wouldn't have given loans to people who couldn't afford them.
I know what it's like to maybe lose your home. When I was younger, my parents filed for bankruptcy. We couldn't afford all our bills all at once and had to pay them off in increments. It's not like that now, but we could have had our house foreclosed and been kicked to the streets. My parents bought their house in 1979 and are just now close to paying off the mortgage. I know what it's like living paycheck to paycheck, hoping we can afford all the bills and the lights aren't turned off. So maybe I'm a little too sympathetic to the people who are facing foreclosure, who just wanted a house to call their own.
