Q: First Bear Sterns and now Lehman Brothers, what is happening to the American housing, loan and financial institutions? Over the last couple of years certain individuals have been allowed to walk away with billions of dollars in unfair trades and no one, no one is saying anything about it. Institutions are failing, going bankrupt and no one is checking into who made those billions of dollars in illegal trades that have resulted in the worst financial failure the banking system has seen in this century. Who is responsible and who is losing while others gain?
A: Who's responsible ? Those NINJA's who took loans against their property that they knew they could never pay back .. and those who then 'sold on' the loans (multiple times) whilst turning a blind eye to that fact that they could never be paid back .. Who gains ? Hard to say .. those who took out the loans and spent the money .. those who got a nice fat bonus for processing NINJA loans .. 'the economy' in general (all the workers in the shops & store's where the NINJA's spend all the money) Who pays ? Eventually = the Taxpayer ..