YOUR COMMENTS

You can't blame anyone specific at this point
- Bob, Derry

Why are people continually surprised when the ridiculous return they are getting on their investment, in this case 13%, suddenly dries up? If it seems too good to be true, it usually is!
- Joe, Derry

Blame Bush all you want to. But it's pretty clear from what's going on today just which party is the big entitlement pusher. And it's not the Republicans. Bush tried to warn the democratically controlled congress and so did McCain. But the dems beat back all attempts to reign in the financial whizkids on Wall Street. The mess we have today was created by the democrats - period!
- Brian, Farmington

Dennis and John,

You too need to learn your history. Less we forget about the CRA regulatory changes enacted in 1995 by President Clinton and his cronies. "Need to loosen up regulations so the inner city people can get loans" "Too much regulation and paperwork".

Check out the changes implemented in 1999 by good ole Chuck Schumer and Mr. Dodd.

Point fingers all day. Bottom line, if people didn't take out mortgages they couldn't afford then they shouldn't have taken them out. Understandably that peoples situations change, but this society needs to start taking responsibility into their own hands.
- Em, Meredith, NH

Mike
You should get your facts right, in 2003 the US Congress had a Republican Majority, so Barney Frank would have been only a member of the Committee on Banking, not the Chairman, so please, could tell me how could he have had any influence on the outcome on the legislation in 2003., did he change parties and become a Republican and didn't tell anyone. Why don't you point the blame on the proper people. Maybe it could have been Bush who never used his veto power and the borrow and spend Republican Congress who left us in this mess.
- John, Sandown

Mike, It would be ridiculous to blame anybody at this stage of the game.

Apparently - something "of significance" occured to make them shut down this quickly.

Sounds like mismanagement of funds or a major buyback demand that exhausted the company's resources.
- Traci, Atlanta

Mike, why don't you go double-check your records. That vote was taken when Republicans held both the house and senate. Clinton signed it.

If you're going to spread blame, at least put the blame where it belongs!
- Dennis, Manchester, NH

The irony here is that in the 1990's, President Bill Clinton made changes to the Community Reinvestment Act that forced an increase in the number of loans made to low income people who really couldn't afford the loan...but this same Act also made it much easier for mortgage companies to loan money to anyone regardless of income.

In 2003 President Bush tried to propose a change in some of these rules but was voted down by democrats led by Barney Frank.

So why politicize this...because it's also these same acts that allowed unethical practices to be put in place since rules and regulations could be easily skirted!

Oh wait...I forgot...we always are suppose to blame Bush!
- Mike, Epping

I can't believe all this is happening. Scott is a church going family man and I have a hard time believing he purposely took money from investors for his own personal gain. There has to me more to the story. My prayers are with his wife and children who are great people and never deserved to be in such a situation.
- Old Employee of Financial Resources, Laconia, Nh