Those who received sub-prime mortgages were not victims of greedy bankers they were victims of their own greed. No job no problem, do you think those applying for loans were shocked to find out they had no income? Nobody held a gun to their heads and made them sign contracts they knew they could never honor. Yes the greedy bankers are at fault but so are the greedy buyers.
Apparently you didn't read it. If those banks were not, so fast to rubber stamp normally un approvable loans this would not of happened. People were actually being solicited to refinance or buy larger. They tried it with me ,so stop it.
Ok two words stupid and greed. Happy? I don't know anyone who has a job or in a lot of cases no job who were so stupid they didn't know they couldn't afford the payments. Its not like it came as a surprise the day you closed.
I met lots of people that were promised a good plaster job, but the plasters used fiber-glass tape, and gee - a lot of it cracked up. They should have seen that coming. They were told they were going to get a good job.
Are you seriously trying to equate the two? When you sign the papers to buy a house you know exactly what the terms are. When you sign a contract with a contractor you SHOULD know exactly what materials they will use. If you sign a mortgage agreement knowing the house payment is X then you should be able to pay X. If you can't then you are no less greedy than the plasterer using fiberglass tape. As an aside I will attest to the fact that self adhering fiberglass tape is crap, use paper tape or suffer the consequence.
Where is they person that approves or denies the loan according to the proof of ability to repay this loan during all of this? Being that these loans were chopped up and sold as AAA securities,the loan issuer was the gatekeeper. They not only made an irresponsible loan to someone that 30 seconds of math would prove,they knowingly defrauded the investor of those mortgage backed securities. These were sold world wide,they don't like to bring that up,that's why the whole world is FUBAR right now.We won't get into those "Unsustainable" pensions right now.De- regulation let the financial sector rob us blind,wake up and deal with it.
I can't even begin to understand what you have missed throughout this debate. The people who made the loans are guilty, those who accepted loans they knew they could never pay back are guilty. What exactly are you missing?
"When you sign a contract with a contractor you SHOULD know exactly what materials they will use." How many people know anything about the materials? Lot of shoulda/woulda. There are no con-artists. There are only stupid people.
How many people? Responsible people educate themselves about what they are paying for. People unlike those who entered into agreements that they could not honor. You continue thinking they were victims if it makes you feel better.
If we do not repeal Obama Care...what will happen to the nation?Will we ever enjoy the same amount of liberty that we had before?For instance, I was fined $200.00 for not having health insurance.I know others who were...
In case you haven't noticed, another election is almost here. That being said, many articles are being written outlining the various quotes, plans and rhetoric being spewed by both sides. My problem could be that I'm...
It seems that unless you are upper middle class or wealthy you can't afford proper health care. It just doesn't seem fair. I am happy so far that I have been healthy, but just a simple cold or flu to get penecilin you...
So, we've seen this before. A sweep of the offices to the opposite direction, but then the president being reelected. It happened with Clinton, Reagan, etc. So, will Obama be reelected despite yesterday's landslide?
I already had one post about low traffic. Here is another one. It just keeps going down. I was excited at first about being on Hubpages, but that has changed. Traffic was going up, and I was enthused about writing...