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Do you remember 2004-2008? Maybe you didn't get to see it first hand, but in the US, it happened.

You really need to define "poor" here. Poor people did NOT take out million dollar mortgages even between the years of 2004 to 2008 in the US.

Please stop the ridiculousness of blaming "poor" people for the recent housing collapse.

I didn't lay any blame. But people got in way way over their heads with banks happy to make giant loans with no reason to care if it could be paid back.

http://thisamericanlife.org/radio-archives/episode/355/the-g...

I agree with that but you implied poor people were talking out million dollar house loans.

Some one had to take out those NINJA loans it takes two to tango.

Yep... It was "poor", middle class, and rich people who took out those loans.

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