Mike, I agree totally that everyone is responsible for their own finances, but - how is it that those who overspent collectively responsible for banking collapses? I really don't understand this well at all, aren't banks responsible for screening their applicants based on their paying ability, history, and shouldn't lend to those who can't pay? I always thought , for example, that I shouldn't buy a house valued more then X2 of my early income. And never would... But people were allowed to buy much more expensive properties...

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Happy New Year to all! Virtual hugs!