Quote:
Originally Posted by RIJIMMY
Crafty, I know we dont agree on much, so it should come at no suprise that I disagree stongly with this.
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Hey, no worries, mate - that's what makes America great.
You've got good musical taste, anyway, Jimmy -
Listen, the bankers indulged in risky behaviors - lending money to people who didn't have a snowball's chance of being able to meet their financial obligations. So how can the money-lenders cry the blues -
Their current dilemma is the result of self-inflicted wounds. If you indulge in risky behaviors, you have to be willing to suffer the consequences. And the whole sub-prime fiasco was hardly the result of a noble effort to help consumers enjoy a home of their very own.
They said yes to these people without the prudence that should have been exercised by someone who
knew with the outcome would be. That begs another question - why?
How can you justify giving those people in finance TARP money - our money - when they blew the fundamental premise so badly? That being, if you're gonna loan someone money, make sure they can pay you back, like The Dad Fisherman said.
Not a very complex set of groundrules for institutions that make their living that way...for a banker, that has to be covered in Intro To Lending 101 when they get the gig...
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