Quote:
Originally Posted by spence
No, they lobby to set the rules so they can exploit the system. Don't be naive, the master is ALWAYS shareholder value. That's why we have regulation.
Why not? Perhaps they were walking in a bad area.
More evidence you don't read a single thing I post.
They can't move into a house they can afford because their house is under water and they can't get a new loan.
Sure, the banks didn't mind taking risks when it was with other people's money but now that there's accountability they've shut off the spigot.
-spence |
"they lobby to set the rules so they can exploit the system."
Spence, bottom line...those houses were sold to folks who voluntarily chose to buy them. Banks most certainly did not, as you put it, "extract" that money. Individuals, reckless and greedy, bought way more than they could afford. I had no right to ask them to help me recoup my losses from the stock crash of 2000-2001, they similarly have no right to ask me to help them pay their mortgage.
"More evidence you don't read a single thing I post."
I read your posts, usually when I need a good, deep laugh. Spence, do you deny that your position here is that these people are not responsible for their situation? You said, in this thread, that the evil banks "extracted" their money. That necessarily implies that you don't hold them responsible for their actions.
"They can't move into a house they can afford because their house is under water and they can't get a new loan."
If they can't get a new loan, they can rent. There are all kinds of programs to help people find affordable housing. Renting never killed anybody, most of us were renters at one point.
With liberals, blame always lies with some evil boogeyman called "business".