1% interest rates

[glatt]

Originally Posted by Juniper

Now, it really ticks me off to hear all the whining about "predatory lenders." Hey listen -- these were BANKS. Or mortgage brokers, who make money by selling a loan as a product. These are not noted for being nice, caring, altruistic people: Caveat Emptor.

So you are saying that these predatory lenders were bad, but because you were too smart to fall for their tactics, you think it's OK that they were bad to stupid people?

[Juniper]

Originally Posted by glatt

So you are saying that these predatory lenders were bad, but because you were too smart to fall for their tactics, you think it's OK that they were bad to stupid people?

No, it's not OK. But that's a moral issue, not a legal one.

[TheMercenary]

Originally Posted by Juniper

No, it's not OK. But that's a moral issue, not a legal one.

I don't think that is entirely true. They got bad loans for people that they knew the people could not qualify for. I do believe that 60 minutes did a whole expose on it, I will look for the link.