No, your just baffled, and refuse to admit the lenders and bankers could have cared less if the poor slobs were even capable of paying the loan back.
I freely admit that lenders and bankers couldn't give a rats ass about anything but their huge fees and bonus. I freely admit that lenders and bankers couldn't give a damn if borrowers could pay back the loans, so long as it did not cost them any money on the backside. I COMPLETELY AGREE WITH YOU.
That all worked out real slick huh?
AS you well know, the effect of the fraudulent loans doled out by greedy lenders and bankers is a key component of the liquidty crisis and impending US financial collapse. I COMPLETELY AGREE WITH YOU.
The results of your position have littered the landscape with bankrupt lending institutions leaving the tax payers to foot the bill.
The results of my position as stated above would have lead to responsible banking, as I never supported the lenders and bankers who gave out fraudulent loans, nor the politicians who destroyed the regulations preventing this, or the ratings agencies who gave AAA rating to risky MBSs, etc. etc. on and on. I COMPLETELY AGREE WITH YOU.
To hell with lending ethics and standards.
That is what got us into this mess. I COMPLETELY AGREE WITH YOU.
I cannot possibly make the above any more crystal clear. Now just once, I want you to admit unequivocally that the borrowers had SOME responsibility for their part in taking out loans on homes they could not afford. =
Impossible. The slobs wanting the loans they could not afford had ZERO authority to approve their own loans.
That authority was in the hands of the professionals in the lending industry.
Very simple.
Impossible. The slobs wanting the loans they could not afford had ZERO authority to approve their own loans.
That authority was in the hands of the professionals in the lending industry.
Very simple.
Now if you can show me lending institutions that allow those wanting the loans to have the authority to approve their own loans, then I might agree with you.
But we both know this is not the case.
Thats why I gave you the cop/drunk scenario. The drunk has no say about going to jail. Just like the poor slob wanting money, he too has zero ability to approve and authorize his own loan.