Is this whole collapse of the banking system just as much the fault of home owners as it is the CEOs?
July 2nd, 2009 — 06:42 pm
fortheimperium2003 asked:
It seems that in the last 30 years, people have been increasingly living of plastic. We buy homes that are way out of our price range, buy cars with no money down and make high payments, Fill up the shopping cart at Wal-mart, and whip out the plastic at the checkout counter… this list goes on.
And this is the banking system’s fault? They hang a carrot, and we are either too stupid or too greedy, and go for it.
Sounds to me that we should get what we deserve.
And the banks.
Let the system collapse.
A better one will take it’s place.
Now we will have ‘big brother’ giving us a cavity search every time we want a loan.
This is the CHANGE you are getting!
It seems i am not alone on this. giving the current election, and the way washington is spending OUR money to ‘fix’ the problem, I thought I was.
I remember my dad having trouble securing a loan for EIGHT THOUSAND DOLLARS for a HOUSE and 3 acres. I have had 2 homes foreclosed (not rentals) because of my own stupidity, not the banks. succeeded in buying and paying off a house (that got washed 5 miles out to the middle of the marsh during Hurricane Rita, and now have bought another house that will be paid off in two years. This is because I basically bought property with a dumpy house on it. when we pay it off, we will take the ‘house payment’ money, pretend it isnt there, and save it to put up a decent place.
I think some people just need to be made to suffer, and forget about the silver spoon pie in the sky syndrome, and come back to the real world
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It seems that in the last 30 years, people have been increasingly living of plastic. We buy homes that are way out of our price range, buy cars with no money down and make high payments, Fill up the shopping cart at Wal-mart, and whip out the plastic at the checkout counter… this list goes on.
And this is the banking system’s fault? They hang a carrot, and we are either too stupid or too greedy, and go for it.
Sounds to me that we should get what we deserve.
And the banks.
Let the system collapse.
A better one will take it’s place.
Now we will have ‘big brother’ giving us a cavity search every time we want a loan.
This is the CHANGE you are getting!
It seems i am not alone on this. giving the current election, and the way washington is spending OUR money to ‘fix’ the problem, I thought I was.
I remember my dad having trouble securing a loan for EIGHT THOUSAND DOLLARS for a HOUSE and 3 acres. I have had 2 homes foreclosed (not rentals) because of my own stupidity, not the banks. succeeded in buying and paying off a house (that got washed 5 miles out to the middle of the marsh during Hurricane Rita, and now have bought another house that will be paid off in two years. This is because I basically bought property with a dumpy house on it. when we pay it off, we will take the ‘house payment’ money, pretend it isnt there, and save it to put up a decent place.
I think some people just need to be made to suffer, and forget about the silver spoon pie in the sky syndrome, and come back to the real world
Content supplied by Yahoo Answers