There is a big difference between promoting and mandating.
You blame the drug dealer. I blame the drug user.
They essentially do both. Do you know how many people own homes that were bought with straight up cash? From what I understand, You cant: a bank has to have SOME stake in any property. If that is incorrect, than I regress.
Credit promotion is EVERYWHERE for cars, houses, SCHOOL....you name it, loans are offered. Debt and credit is apart of our economy and our way of living. It wasn't always like that though.
On a side note, you REALLY are going to blame the drug user? So you feel that drug users need to be in jail more then the drug pushers? Im sorry, but a person who pushes crack deserves jail time over a person who smokes it. Its one of the reasons why our jails are packed like sardines. But that is a whole other debate.
I agree that it is a necessity for life, but it seems that we disagree about who is responsible for meeting the needs in one's life.
As a person, YOU are responsible for that. Do you know how hard it is to find a house for RENT, if you have a large family? I'm sorry, but a family of 5 isn't going to rent a 2 bedroom apartment.
How is it deceiving if you know about it? They can't mislead us if we know they are misleading us because then we are just knowingly following them.
Its deceiving for many folks because they are told to their FACE all of the things THEY think WE need to hear. True, many folks don't read the fine print. But when they state in ways that are confusing to the average person, who most likely cant afford a lawyer to that for them, they are placing their TRUST into the loan officer.
On a side note, my buddy actually WORKED for Country Wide and he openly admitted to ME that they lie to just about EVERYONE they solicited. He quit because he felt a moral obligation was being exploited to the folks he talked to.