Truth or Not?
In Los Angeles in particular, there is a sense that everyone deserves a home mortgage when the fact is that some people simply do not have the income or savings needed to pay for it.
If someone was "suckered" into taking a home loan, or home equity loan, that they purely did not understand, is it the responsibility of everyone else to cover the bad debt? Cumulatively, these bad loans hurt the economy. But whose bad loan is it?
Do you believe in allowing market forces to sink Morgan Stanley and Goldman Sachs? Or do you believe in bigger government, and an intervention?
See if you can write a response that doesn't include the words Obama, McCain, Democrats or Republicans