11-11-2011, 08:55 AM
(11-11-2011, 08:49 AM)rothschild Wrote:(11-11-2011, 12:49 AM)username Wrote:(11-10-2011, 08:23 PM)rothschild Wrote: A lot of poor and lower middle class people in this nation are ignorant re interest, which makes them easy targets.
Asshat that you are, you probably think that loan officers explained how interest works to their respective clients, and that the rates had nowhere to go but up.
That makes them stupid! C'mon, where is it written that sellers have to fucking baby sit buyers? What ever happened to caveat emptor?
You can't expect every seller to screen their buyers for common sense. It's not just housing, should auto sellers be regulated with regards to screening the stupid? How about Walmart? Should every purchase/lease/mortgage transaction be subject to the stupid police?
Ridiculous.
The lenders had the prospective borrowers' financial history, Sherlock. They knew whether or not a borrower was a good risk or a bad risk. So the real question is, why did lenders make such a multitude of bad loans?
The real question is why did they make bad loans and then whine like bitches when they lost their asses?
If the buyer can fail, then the lender should also be able to fail.
But in this case they had agreements that they would be protected, that the government guaranteeded it's own loans with tax payer money.
The whole thing was one big fraud that was pulled off on the American people.
Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.
John Adams
John Adams