Ungrateful and thankless? That's a good one!
The bank does not loan me money to do me a good turn; they loan money to collect interest and make a profit, its their business. If I default on a secured loan, they take my property.
Thank goodness they do so anyway.
There is no thank goodness about it. Its their freely chosen business to do so. Its a profit making endevor and they do their level best to minimize (or transfer) risk.
Many business analysts jumped on the bandwagon and supported the claim that the only way to prevent the economy from coming to a standstill was for the federal government to get into the reinsurance business. Insurance executives told Congress that the government needed to act before December 31, 2001, when about 70% of U.S. commercial policies containing terrorism insurance clauses were set to expire.1 They claimed that lenders and insurance companies would renew terrorism clauses in insurance contracts, preventing an economic crisis, if and only if they knew that the government would step in when necessary.
Kind of sounds like blackmail - subsidize our risk or suffer an economic crisis. Some free market.
Not your property...theirs. They paid for it, not you.
How prototypically liberal to think of something that someone else paid for as "my property".
But, I get your drift; Americans suck..bankers suck, insurors suck, lawyers suck, yeah..yeah..yeah. They owe you a house, and a life free of responsibility.
Kind of sounds like blackmail - subsidize our risk or suffer an economic crisis. Some free market.
The risk was too great for the insurance companies to handle.
And no, there is no such thing as a 100% free market in an industrialized society.
Kind of sounds like blackmail - subsidize our risk or suffer an economic crisis. Some free market.
The risk was too great for the insurance companies to handle.
And no, there is no such thing as a 100% free market in an industrialized society.