Word: blamed
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...approving such loans without due diligence? And greater fault with the creators of the mortgage-based derivatives? Until 10 years ago, getting approved for a mortgage was a pretty good indication that you could afford to make the payments. So for the most part I really don't blame buyers--they were relying on a time-honored financial rule of thumb that mortgage lenders and their Wall Street backers had suddenly decided to throw out the window. I'd blame the lenders, the securitizers, the regulators and Congress first, and buyers probably last. Although I'd still blame...
...worst-case scenario, economic historians may find that all of Paulson's predictions come true, leaving the cost to the Federal Government far greater than the risky $700 billion investment in the private sector. If this comes to pass, the historians will find many people to blame: Paulson and President Bush for failing to explain the plan better. The House leadership for failing to whip enough votes. Even the presidential candidates for failing to use their bully pulpit to force the issue...
...perhaps it shouldn't have come as such a shock when the House of Representatives failed to pass the bill Monday afternoon, or that the rest of the day was spent in partisan fury and recriminations: Democrats blamed Republicans, Republicans blamed the Dems, the House blamed the Senate, the Senate blamed the House, John McCain blamed Barack Obama, Barack Obama blamed - well, you get the picture. Only one player remained relatively restrained in the aftermath of the defeat, which led to a 777-point free fall for the Dow Jones industrial average, the largest single point drop in history...
...McCain was almost as quick to throw blame around as his GOP colleagues, and his target was, no surprise, Barack Obama. "From the minute John McCain suspended his campaign and arrived in Washington to address this crisis, he was attacked by the Democratic leadership: Senators Obama and Reid, Speaker Pelosi and others," said Doug Holtz-Eakin, a McCain senior policy adviser. "Their partisan attacks were an effort to gain political advantage during a national economic crisis. By doing so, they put at risk the homes, livelihoods and savings of millions of American families...
...hyperpartisan statement released by the McCain campaign are exactly why the American people are disgusted with Washington," Obama spokesman Bill Burton said in a statement. "Now is the time for Democrats and Republicans to join together and act in a way that prevents an economic catastrophe." Given Monday's blame game, the odds of both sides rising to the occasion don't look very good...