Finance in America

[Sandy Nicholls]

This situation with finance, stock market, housing should not be a shock to anyone. The lending people were not doing anyone a favor by giving out mortgages to everyone, even those did not qualify. When people buy homes they are required to have a certain amount to put down. They need to be realistic as well as those that run the mortgage companies. It boils down to mismangement and perhaps the CEOs of these companies should give up their big bonuses and be held responsible for their employees. Years ago if you did not have the downpayment-tough-you did not qualify and could not buy the home. I along with all of America are worried about the future. I found Kiplinger's the most helpful. I follow articles in their magazine and have found their tips to be very helpful.