Whose Fault?

[pocketfullofshells]

Riiiiiiiight - banks make a "quick buck" when the borrower defaults. They've made so many quick bucks - that's why they're collapsing.



Nonsense - the collapse was caused by people borrowing money they couldn't repay.



This is pure defamation - you are making things up from thin air, and have no proof.

Becuse you have no understanding of Economics its seems? Quick Buck aka make money now make investers happy...VS make smart decisions based on long term and saying no to high risk loans that would make you money now, but stand a good chance of going bad later .

2nd part: I already said that, way to read.

Who am I defamaing? Politicans in General? Good god I hope they dont all sue me.

 

[pocketfullofshells]

Of course it isn't the banks fault if they lend to people with bad credit is it?

The banks couldn't possibly be responsible.

There is no onus on them to be responsible considering what happens when they **** it up.

Grow up.

nope, if I loan the homeless man on the street 100000 bucks...I cant be held liable if for some reason it turns out I dont get that money back, its all that damn Homeless guys fault, I take no blame for being dumb and not smart with my money.

 

[pocketfullofshells]

Being in the mortgage industry myself, it's hard to put a finger on someone.

I know that at one point I was surprised at the types of crazy financing that was available and the way some people were being taken advantange.

I know that a lotof this crazyness now is being caused by idiots who don't want to keep making payments because their houses are not worth what they paid for. They bought their house with very minimum investment, or no investment.

You'd be surprise how many people come up to me asking me to encourage them to walk awy from their homes because it's not worth it anymore....

I tell them, Did you pay the bank extra when your house was worth 100 to 200k more? It's ridiculous! the bank who agreed to be the nice guy and let these people borrow thousands of dollars in good faith are getting shafted by all these people.

It's the borrowers fault!!!!

Its not the fault of anyone at the bank for doing there job and making sure they would be able to pay it back before making the loans?

hell if this is the way banking works I am in., I give people money they pay it back with interest...if they dont I tell the Feds to pay me for or it becuse I was dumb and loaned a man who made 30,000 a year, who had 100,000 in debt, a lone for 250,000 and it was not repayed....I will of course keep all the money made from loans that are good, but bad loans should be paid by the taxpayers.

 

[XCALIDEM]

Its not the fault of anyone at the bank for doing there job and making sure they would be able to pay it back before making the loans?

hell if this is the way banking works I am in., I give people money they pay it back with interest...if they dont I tell the Feds to pay me for or it becuse I was dumb and loaned a man who made 30,000 a year, who had 100,000 in debt, a lone for 250,000 and it was not repayed....I will of course keep all the money made from loans that are good, but bad loans should be paid by the taxpayers.

hey nobody was complaining when people were pulling money from their equities and buying new homes, or buying toys and keeping our economy going right?

I never saw a Realtor complaint because the easy qualifier loan gave them 10 to 15 k in commission in 1 deal.....

 

[BigRob]

Becuse you have no understanding of Economics its seems? Quick Buck aka make money now make investers happy...VS make smart decisions based on long term and saying no to high risk loans that would make you money now, but stand a good chance of going bad later .

2nd part: I already said that, way to read.

Who am I defamaing? Politicans in General? Good god I hope they dont all sue me.

Reality check in terms of economics... the long term is irrelevant. It is nothing more than a group of short terms put together.

 

[BigRob]

Its not the fault of anyone at the bank for doing there job and making sure they would be able to pay it back before making the loans?

hell if this is the way banking works I am in., I give people money they pay it back with interest...if they dont I tell the Feds to pay me for or it becuse I was dumb and loaned a man who made 30,000 a year, who had 100,000 in debt, a lone for 250,000 and it was not repayed....I will of course keep all the money made from loans that are good, but bad loans should be paid by the taxpayers.

Well the government did tie credit ratings and banks access to capital to how loans were distributed "fairly" to "lower income" people.

 

[Sihouette]

It is the fault of BigOil's manipulation of our energy policies over the last four decades...funneling Trillions of dollars of our net worth into foreign hands. It's been a slow bleed. So it's one that no one is pointing the finger at. The housing crises could've been ridden out if our base was strong.

Being dependant on foreign sources of energy is the root at the bottom, the very bottom of the weed.

 

[pocketfullofshells]

It is the fault of BigOil's manipulation of our energy policies over the last four decades...funneling Trillions of dollars of our net worth into foreign hands. It's been a slow bleed. So it's one that no one is pointing the finger at. The housing crises could've been ridden out if our base was strong.

Being dependant on foreign sources of energy is the root at the bottom, the very bottom of the weed.

What I just read was, I want to talk about Energy policy so I will just randomly link it so something not realated , or at least very lightly related.

 

[Andy]

It is the fault of BigOil's manipulation of our energy policies over the last four decades...funneling Trillions of dollars of our net worth into foreign hands. It's been a slow bleed. So it's one that no one is pointing the finger at. The housing crises could've been ridden out if our base was strong.

Being dependant on foreign sources of energy is the root at the bottom, the very bottom of the weed.

Why yes of course!! It's all so clear now!! BigOil forced the government to prevent it from drilling to force itself to buy imported oil, to force us to send money to Canada and Mexico, to force all of us to not have money to buy the oil it's selling... to um... force us to have to bail out the bad loans... that we forced them to give us... to force... um..... wait what's the topic again?

You never cease to amaze me with your effectiveness at stringing several completely unrelated topics into a twilight zone conspiracy theory.

 

[Libsmasher]

Why yes of course!! It's all so clear now!! BigOil forced the government to prevent it from drilling to force itself to buy imported oil, to force us to send money to Canada and Mexico, to force all of us to not have money to buy the oil it's selling... to um... force us to have to bail out the bad loans... that we forced them to give us... to force... um..... wait what's the topic again?

You never cease to amaze me with your effectiveness at stringing several completely unrelated topics into a twilight zone conspiracy theory.

Excellent!