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 : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: Ilaine who wrote (23158)9/26/2007 3:44:29 PM
From: carranza2  Read Replies (1) | Respond to of 218726
 
Rapacious is putting it mildly.

And the people they extort are the weak, e.g., illiterate, semi-literate, uneducated, semi-educated, very young, very old, demented, they have no shame at all.


Agree completely.

A local judge's opinion, linked below, has resulted in one bank changing its procedures on a nation-wide basis. Of course, she was about to hammer them with enormous sanctions. No telling how much profit Wells Fargo - and others - made by violating the rules [BK stay, mis-calculation of interest, etc.] Sounds like a good class action for you BK lawyers.

laeb.uscourts.gov



To: Ilaine who wrote (23158)9/26/2007 6:28:56 PM
From: TobagoJack  Respond to of 218726
 
they are deadbeats

should be sent to jail

so that the world has less deadbeats

thus lending institutions lend less to fewer deadbeats

china mainland consumer loan culture is effectively not just yet, but will grow, presumably, though society generally look down on consumer debt; institutional debt is big time, as everywhere

hk / macau is not so big on consumer debt - due to safe lending practices - mortgages are generally secured by 30% downpayment, with monthly adjustable interest rate, and callable should home value as determined by prevailing market price fall below set amount

taiwan is big on mortgage (as opposed to credit card) debt, and will pay for it

singapore not big and so will not



To: Ilaine who wrote (23158)9/26/2007 9:33:03 PM
From: Snowshoe  Read Replies (2) | Respond to of 218726
 
>>It's a very ugly business these guys are engaged in. Rapacious is putting it mildly.<<

Reminds me of an 1890s story I read in grade school where I grew up on the northern plains. The title lodged in my brain all these years, and helped influence my profound desire to avoid domination and control by usurious money lenders...

UNDER THE LION'S PAW
by Hamlin Garland
xroads.virginia.edu

Haskins sat down blindly on a bundle of oats near by, and with staring eyes and drooping head went over the situation. He was under the lion's paw. He felt a horrible numbness in his heart and limbs. He was hid in a mist, and there was no path out.