SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: DebtBomb who wrote (85400)8/21/2007 3:31:59 PM
From: Lee Lichterman III  Read Replies (3) of 110194
 
Yeah thats it, it is the lenders and enablers fault. Lets not put any responsibility on those that should have known they could never repay the loans.

The reason that credit card rates are 33% for some people is they are not trustworthy, 1/3 or more of them won't repay the debt. The choice is not to lend to them at all or charge a high rate so they only borrow for emergency needs. Instead, they want the big screen TV, the iPod so they borrow anyway at the high rate.

How about we stop giving loans to welfare moms, dead beats and force them to live within their means like the rest of us outdated old farts.

Look at where most of these foreclosures are other than over priced California and Vegas. It isn't in conservative good job communities. Detroit, Cleveland, Atlanta, see a pattern? Being PC is getting our financial system in the ringer. Bloomberg just reported that 40% of home buyers in Detroit and Cleveland didn't even make their FIRST house payment. WTF!!!!!!!!! They never planned on paying the loan, How about we cut these crooks off and let them go back to the loan sharks that will make them pay and charge even higher rates or break their knee caps and drown them in the river.

If you don't have the credit score, I am not going to loan you the money unless I get a high enough interest rate to justify the risk. You wouldn't either unless you are a fool.

Risk vs reward, ever hear of it?

I will agree with you that Greenspan recomending ARMs at 40 years low interest rates was criminal though. -ggg-

Good Luck,

Lee
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News