I also find it ironic that people seem to be complaining how tough it is to borrow money as a result of this situation. Have they considered the idea that maybe banks are simply just loaning money only to the people who should have qualified in the first place. The people who are now having a hard time getting a loan probably could have gotten one a few years ago, but it seems that some of the banks have learned from their mistakes. No offense to anyone out there, but if you make $20,000 a year, the bank should not give you a loan to buy a $400,000 home. It is not your inalienable right to get that loan. You have to earn that privilege. No bank is obligated to do anything for you. Even if they decide to take a risk and offer you that loan, you should be wise enough to know that you have no way to pay it off and realize that it will ultimately end in catastrophe for you and your family. The excuse of "they tricked me into it" is not valid. You are foolish and gullible if you fall into that trap. Therefore, no person should have any pity for you.
Maybe I'm just a cruel person, but I will never be convinced that you have the RIGHT to a job, your own home, a new car, big screen tv's, or any other luxury. You have to earn these things. Recently, I read about a woman who was complaining that she didn't have enough money to feed her daughter because the bills were so expensive. These included her power, water, and cable bills. Yes, you read that right. She claimed to be barely getting by because the cable bill was too high. Here's a novel idea...cut off the cable! Nickelodeon is not imperative to proper child rearing.
The only real rights laid out to us are life, liberty, and the pursuit of happiness. It is not anyone else's job to make you happy; you are only given the right to pursue that happiness. If you don't want to go get it for yourself, then you don't deserve it.