The $700+ billion dollar financial bail out agreement was announced this morning. It sounds like our elected officials have finally come to agreement on a bill that will purchase what they are calling “toxic” loans. This includes many sub prime loans that probably should never have been made in the first place.

Who is to blame? If you listen to elected officials from both parties, it is the key executives of these companies who make millions or members of the other party. Now I’m not a market or economy expert, but it seems to me there is plenty of blame to go around.

Our own elected officials from both parties created regulations over the years during both Democratic and Republican administrations that penalized lending companies that were more conservative in their lending practices and rewarded those that gave loans to just about anyone. I haven’t heard any of them take responsibility for their votes and positions that helped create this mess.

A system in the market that allowed these “toxic” loans to be passed on to other companies and ultimately investors of all income levels. There was no accountability because the bad debt could be passed on to others without companies feeling the pain of their bad decision making. These companies included those whose executives were making millions. Both current presidential candidates appear to have some of these people advising the campaigns.

There are many borrowers who have had significant  difficulties including medical emergencies, job layoffs and other major unforeseen circumstances that have not allowed them to make payments. However, other borrowers clearly took out loans that they could not afford. Should they take responsibility for making bad decisions?

There is a time and place for Adjustable Rate Mortgages, but when we use them specifically to qualify people at low interest rates knowing that the payments are going to increase at a drastic level, that is irresponsible and not living up to an expected level of fiscal responsibility. Yes, there are unethical mortgage lenders. The vast majority, however, are honest and work to the benefit of their clients.

This situation makes me sick. I am tired of the finger pointing that is going on when there are plenty of people pointing their fingers at others while they should be admitting they played a key role in this disaster. Where are the leaders willing to stand up and take responsibility? Can we fix this problem when no one is willing to take responsibility? Who is looking at changing regulations that helped create this problem? Who is willing to take responsibility for borrowing more than they could pay?

A bail out is probably needed and should move forward, but if no one will admit their contribution to the mess, are they willing to fix the laws and the system that brought us to this place? I hope so, or this is bound to happen again. Where are the leaders? Anyone?

Just my opinion.

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Today is September 11th. As I turned on the television this morning while I was getting ready to leave, the footage ran of the terrorist attacks. Just as that day, I found myself with tears in my eyes. I think of just a few of the ways that life has changed since then.

• Our country is at war
• Long lines at the airport
• Extra security for events like the DNC
• Families reminded to keep emergency supplies at work, at home and in our cars

While the political season goes on, I will never forget how we were a united nation for at least a little while after these attacks.

My thoughts are with all the families and friends of those who were lost around the world, across the country and even here in Colorado. My prayers are also with those in uniform who are today protecting our rights to freedom and a free election. God bless!

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