From the Wall Street Journal May 21:
“Wall Street crashed our economy and the regular citizens of the United States are tired of being marginalized,” Bobby Tolbert, of New York, one of the group’s organizers, said on the street in front of Mr. Geithner’s house.”
Really Mr. Tolbert, really?
You mean the “regular citizens” who flipped houses, bought houses they could never afford, took the unsafe risk of ARMs to get a bigger house, who accumulated high levels of personal debt and who used their home equity as an ATM didn’t crash our economy? Wall Street may have been a willing and irresponsible enabler, but regular citizens were the ones most irresponsible … along with politicians.
I don’t know about being marginalized, but this regular citizen is tired of listening to this scapegoating and tired of the consequences of my fellow irresponsible citizens.
QUINNSCOMMENTARY 
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I agree! Have an acquaintance who chose to go the foreclosure route, because why should he continue paying on a loan that he is upside down on. Although he could well afford it he stopped paying and saved that money (thereby effecting everyones equity) and now tells me he can get a new loan through the Veterans Admin only two years later? Something is wrong with this picture!
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Indeed something is wrong. I bought a house in 1987 that was underwater for nearly ten years. I couldn’t re-mortgage because I didn’t have enough equity while my interest rate was 9.5% and I put 15% down. I gave no thought to walking away or the idea the government would step in. How times have changed.
Dick
Richard D Quinn Editor Quinnscommentary.com
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Agreed, the “margin line” runs right down the center of our country. The real estate bubble was an everyone’s invited affair. When the bubble burst the blame was assigned according to how much distance the blamer could find between himself and the person he blamed.
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