| Re: The credit crunch - an effect not a cause |
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Group: uk.politics.misc · Group Profile
Author: Video61Video61 Date: May 13, 2008 20:23
> On Wed, 14 May 2008 02:17:22 GMT, "Jeff Strickland"
>
> verizon.net> wrote:>>"The Trucker" verizon.net> wrote in message
>>news:pan.2008.05.14.01.52.32.728006@verizon.net...>
>>> Oh, horsecrap. The people who cannot afford to live in the nice digs need
>>> to leave them. And the financial weenies that shuffled the papers need
>>> to eat the costs.
>
>>They never should have had the nice digs in the first place.
>
>>They beat down the doors to the bank asking for a loan. In retrospect, the
>>banks should have told them to get lost.
>
> The majority of these people could readily have afforded honest
> mortgages. they were sold gimmicks by fraudsters instead. Fraud is a
> crime for a reason, even caveat emptor rules.
its funny listening to conservatives blame the little guys for
forcing them into loaning them money under fraudulent statements. when
the truth is the financial industry knows almost to the penny what
most people have. they know what they own, where they work, their
shopping habits, what they buy, how much they buy. almost all of their
habits, yet, they did not know they were being lied to when the loans
were applied for. if the banks and mortgage brokers were duped, then
they should be tried for being criminally incompetent.
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