Oversight and regulation obviously has been.

The real estate market and the mortgage industry DID contribute to this fall, but you can't blame those home buyers all across the board who bought into the ponzi scheme. I know people from all walks of life, Democrats and Republicans alike who bought first, second and even third homes while the pickens were good.

They paid high closing costs on their mortgages, perhaps while the banks (knowingly) sold them down the river. Play now, pay later.

We are ALL going to pay more for food and necessities, but I really don't think you have to worry.
>"And now their irresponsibility will probably cost me. My home value will probably plunge while they get to keep their bigger more expensive home at the expense of us taxpayers. My taxes will probably go up."

I think certain tax brackets will actually go down. And those who are in over their head, will LOSE their homes. Relax. We're all in this together.