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re: What happened when this woman drove a Mercedes to pick up food stamps
Posted on 7/29/14 at 9:16 am to Pettifogger
Posted on 7/29/14 at 9:16 am to Pettifogger
quote:
Federal Government
To be sure, the culprits inside of this arm of blame are politicians working on behalf of business leaders.
quote:
A population that sought and obtained bad loans, usually through no misfeasance by a financial institution, and claimed it shouldn't be held responsible for its own decisions. Unfortunately, many of these folks are now suing banks and living in homes they're no longer paying for
If you believe the fraud in the subprime fallout was not rampant, systemic, and found at all levels of lending institutions, we can agree to disagree. I'm not acting as if everyone - or even the majority - of borrowers were duped either. That said, if we are going to put that responsibility on one side of the transaction, it should equally fall to the other as well. Bad decisions should be lived with at all levels to promote market fluidity and natural controls.
You talk of in the direction of generational poverty, this concept is no different. How can business be expected to act in a responsible manner when irresponsible behavior is rewarded like this? It is the same argument.
quote:
The population that thrived because of predatory/irresponsible lending's MBS, leading to demand for more and more and more by financial institutions. How many people were complaining about their MBS heavy 401k in 2006?
How many people were complaining about Asbestos a hundred years ago? It was invented almost five thousand years ago.
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