people are free to be misled by their own mistaken beliefs, and suffer the resultant losses
the problem comes when they also expect to be bailed out, and not go to economic jail otherwise known as bankruptcy should they renege, when there are deadbeatism lawyers to help them perpetrate the fraud and complete the crime of ignorance, negligence, or deliberation
hk mortgages require 30% down generally, unless co-financed by developer, uniformly have monthly adjustable feature, as well as complemented by capital/margin call feature triggered by loan to value measure, and has the mortgagee's entire asset base at recourse - this is what caveat emptor explicitly mean
that is why i was confused by what cb ilaine was talking about when mentioning the same concept when we all know it is an empty slogan where she works at, performing fraud upon the lenders at the mercy of wastrel electorates, fiscal miscreants, and fed printers
during the sars crisis, the money rock hk banks stepped forward, for their own good and for the greater good of the entire community, to slow the demand of cash from debtors, even as debtors doubled effort to make good their promises to pay - the entire community came together, and worked through a crisis lasting many months that which would have destroyed many other societies, thus saving freedom mountain kowloon |
