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Here's an interesting chart on what states have the most the subprime lending. Wow, Ohio is at the bottom of this list.
I agree that foreclosed borrowers did not do their due diligence. They were suckers. Some lenders may have lied, but you don't have to believe everything you're told. That's being a grownup. Still, it's still sad. I'll bet a lot of those borrowers in Euclid, OH, just wanted to pay bills with their equity. These are people of modest means. They weren't out buying a boat. (Could be wrong about that though.)
I don't think a bail out is in the cards either, even though our government has a history of bailing out big corporations that get into deep water. But even if there was a consensus that borrowers in trouble needed a bail out, where would the money come from? More borrowing from China? This is a mess.
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