See corrections and amplifications below
Who deserves the largest share of the blame for the mortgage crisis?
8% Government regulators
4% Credit-rating agencies
To date, has the broader credit crunch impacted your business negatively?
How concerned are you about the potential impact of the mortgage crisis and credit crunch on the local economy?
21% Very concerned
51% Somewhat concerned
24% Not very concerned
4% Not at all concerned
Poll conducted 9/4
While borrowers deserve the blame for not thinking clearly enough to realize they were buying into something they may not be able to afford later down the road, at the end of the day, it is truly the lenders that dropped the ball.
-Adam Johnson, Rochester Commercial Real Estate
I am afraid that this will send the country into a recession. I don’t think most people realize the breadth of this issue and what impact it will have on the economy, the country and our own neighborhoods. This country is drowning in consumer debt and it is all likely to come crashing down around us. I run a housing counseling agency that provides financial counseling and financial literacy training-and we see every day the impact of debt and poor financial decisions on people’s lives.
-Kim Brumber, executive director, NeighborWorks Rochester
Didn’t your mother tell you there is no such thing as a free lunch!
-Mike Hanna, H.P. Neun
Correction published Sept. 14, 2007
The Snap Poll results in the Sept. 7 issue contained an error. For the second question-“To date, has the broader credit crunch impacted you business negatively”-26 percent of respondents said yes, 74 percent replied no.
09/07/07 (C) Rochester Business Journal