There are many inquiries into what went wrong with the nation’s lending institutions. Everyone is looking for someone to blame.

Our liberal elected officials need to see the light. They wanted everyone to be able to buy a house. That wasn’t such a good idea. Many people were misled or lied to, making them believe they could afford a house of their own. The truth hit them between the eyes when the balloon payments started upward, along with the other bills – the water and sewer bills, rain runoff fees, heating bills, insurance bills, maintenance, gas prices, food prices and the ever-increasing property taxes.

Many went from spending what cash they had in their pockets to using credit cards for everything, but still spending more cash on things they wanted but did not need.

Those balloon mortgages should be against the law. It is misleading, with too much fine print.

Government officials may have had good intentions, but little accounting ability. The downslide has started, and maybe it is not done yet.

Those leaders are the ones least affected and have the most.

William A. Ferentz, Lewiston