ANSWERS: 19
  • 50 percent greed 50 percent stupidity
  • Greed plus extra risk!
  • I don't think it was necessarily greed, I think it was brought on by some unfortunate risks taken years back and too much confidence in today's markets
  • What else? Greed coupled with a certain arrogance that they could get away with it..never fails. Bad combo. :(
  • All these collapses could be charaterized as "manias" and manias are typically driven by greed, either by looking to get rich or feeling that if you dont hop on you will lose which is kind of the same. The thing you have to remember about manias are that they end, right where they began at... so we have a long way to go before this mania is exhausted. In the DOW, look for the market to roll over once Obama is sworn in... Then a bottom to ensue in the next month or so,, followed by a sustained rally for several months and then the big big big fall from grace..... You aint seen nothing yet...
  • Yes, it's greed, but not by the "average" people. It's by the money managers, managers of banks, etc. I personally know of HUGE bonuses given to bank branch managers to "get that loan closed, no matter what you do". So, predatory lending and qualifying loans which would have normally been rejected should have caught the banks in the shorts, but instead it's us taxpayers bailing 'em out. And, from the inception the "home equity" market is a huge reason.......how could you purchase a home (during the high real estate market) and within days get a home equity loan for "125% of the equity you have in your home"????
  • Yes - by greed and by ignorance. Some people are ignorant of the fact that they should not spend money that they haven't earned yet. Always live within your means.
  • The problems are the result of greed!
  • Not all of it most is for "Social Manipulation" and to achieve the religious / political of others who have a bigger picture that does not include you unless you of course are willing to live in service and servitude to them, pick a side join a church, synagogue or mosque and defend it with your blood as a testament to you convictions, belief and faith but in the end some one else behind the scenes will occupy your house, home and property so you have to ask yourself just who and what am I really defending and fighting for and the answer is simple ... ~Nemo~
  • Greed, why? Because companies don't have a conscience ;0)
  • Yes greed is alwasy the #1 problem
  • It is caused by many things working together... irresponsible legislation directing loans to people who could not pay them back... businesspeople who could not see past the short term and were backed by their buddies in congress... big governments with no moderation in spending... most of all it's people like you and me, in a culture where it seems okay to spend more than you make and being in debt is the norm. If not for this mentality then none of the abuse and irresponsibility would have been possible in the first place.
  • yes and duh!
  • I am afraid I do. We see these huge conglomerations posting the annual profits in the many many millions but they still have to grow. Of course we are looking at this as average people who are quite happy if we have some dollars in the bank and are comfortable. My solution would be, every hundred years, everybody in the World would have to put everything they own into a huge pool(not swimming)They would all get their own homes back. The money would be distributed evenly among us all and then we would start again. The brainy people would soon be in charge as before but, the rest of us??? I have just read back and this is bloody stupid.
  • Fear and greed are the two vices that have always driven the market.And continue to.
  • I work for A law firm dealing with bancruptcy and divorce case. Most of people who file Bancruptcy and divorce are the same people. They are falling apart dicorce and bankcrupt at the same time. Most of them have average income 30 K to 60K combined, but they have 2 big houses, nice cars (Mortgage of course) and so many (luxurious and unnecessary materials )bills unpaid. They want to get rid of student loan too which they can't.
  • Greed is the motivating factor, but don't some of you think that there is an element of competition involved too? Like the competition that is taking place when one person tries to prove that 'Theirs is bigger'. Bigger profits, tighter control of operating costs, more subordinate corporate 'arms'.... A huge monopoly game takes place regardless of how regulations are placed. Example of that is how the Bell Telephone Co. went from one corporate entity to a few dozen, then back again (with a new name and logo). Yes, it is greed, but it is also control. Control of the money, control of the governments (through Money)...
  • YES AND BY GENEROCITY BY OUR PRESIDENTS, FIRST THE GENEROUS PART. OUR PRESIDENTS ALLOWING OUR OIL COMPANIES TO SHOW OTHER COUNTRIES HOW TO GET AND PRODUCE OIL, JUST TO BE STABBED IN THE BACK BY THESE COUNTRIES. GREED, BY OUR OWN AMERICAN COMPANIES THAT AT TIMES TRIPLE CHARGE OUR CITIES, COUNTIES AND STATES FOR LARGE PROFITS. THIS IS MOSTLY WHY WE'RE IN HEAVY DEBT IN AMERICA INTERNALLY. BANKS AND CREDIT CARD COMPANIES TOOK ADVANTAGE OF PUTTING AMERICA IN HEAVY DEBT. THEIR GREED ALONE IS DISPICABLE FOR AMERICAN COMPANIES, BUT NOT ALL ARE TO BLAME.
  • Yes, yes and yes.

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