Anyone scared about the economic crisis?

[lookout123]

damn those banks for not wanting legislation allowing people who can't afford their homes to keep them. the devils!

[tw]

Originally Posted by lookout123

damn those banks for not wanting legislation allowing people who can't afford their homes to keep them.

When banks were responsible - did not have a mafioso persona - banks lend only to those who could afford it. Now that they have so many customers that should never be approved, well, it is the customer's fault?

Banks once determined when someone could afford it. Now that the purpose of any company is profits, screw the applicant. Only profits are important.

But again, any company whose purpose is profits therefore deserves to have no profits - and severe punishment.

How curious. Those using extremist politics also advocate a mafia objecctive of profits only - screw the employee, customer, economy, and product. This is Rush Limbaugh’s philosophy that even called Colin Powell a flaming liberal.

Banks that did their job have customers who could afford their homes. Oh. That means the product is more important than profits? A concept so difficult for loyal Limbaugh extremists to admit. Screw the customer. If he cannot afford the house, we will put him there anyway to maximize profits. Extremists say that is good. And now blame the customers for not doing what every bank once had to do when banks had to be responsible.

Clearly that flaming liberal Colin Powell is to blame.

[sugarpop]

Originally Posted by lookout123

damn those banks for not wanting legislation allowing people who can't afford their homes to keep them. the devils!

You know a lot of the people who have lost their home or are in danger of losing their home did nothing wrong. They bought the right house, they could afford it, it wasn't a problem, but after the economy tanked, and people started losing jobs, or getting pay cuts, they couldn't afford to keep them. Some people probably tried to sell their house, but couldn't, because the market is so bad.

AND, let's not forget, those banks are complicit in giving people mortgages they knew they couldn't afford. They were the ones in the position of power. They are the more responsible individuals here for putting someone into a house they clearly could not afford. And that doesn't even go into all the other shady trickses financial institutions were doing.

I'm sick of people blaming only the people who bought more house than they could afford, because those people are not the ones who caused the crash. The people in power are the ones who caused it. Any ethical bank is not going to sign off on a mortgage that someone cannot afford. And the banks who did just turned around and sold it to someone else so they wouldn't be responsible for it. It was wrong, what all those financial people did.