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Pastimes : Don't Ask Rambi -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (70536)	5/7/2010 9:35:36 PM
From: Maurice Winn	2 Recommendations Read Replies (2) \| Respond to of 71178

CB, more on the oil spill for you here [with you getting mention which makes things more interesting for you and encourages you to read all about it] Message 26520701 As a creditor, that seems foolish: <the creditors appear to have been all too eager to loan money that the borrowers could never repay. > The vampire bat business model suggests fraud on the part of employees issuing loans, with the expectation of getting their bonuses before the debtor goes bust and the shareholders fire the swindling employee: <The only business model that fits this situation is that of vampire bats, sipping blood from ruminant animals so slowly that the animals' self-preservation instincts are never triggered. > The big loser is the shareholder. The debtor gets the loot, spends it and gets the value from that, then goes broke leaving the poor creditor empty handed. The loans officers abscond with their salaries and bonuses before the shareholders get wind of their scheme. Alan Greenspan KBE acknowledged that his assumption was that shareholders would protect their own interests instead of losing their companies and crashing the financial system. I know it's fashionable to blame creditors, but my experience is that it's debtors who are the evil-doers who hope to profit from the gullible creditors, not caring about repayment, getting money on the cheap - at worst they can just default and go bankrupt. No big deal. At best they get a big capital gain from speculative "investment" in residential or commercial properties, leveraged businesses, or something. If they go broke, they had enjoyed spending money that wasn't their's anyway. If they make profits on the borrowed money, Yeeehaaa!! They don't send a Xmas bonus to their creditors. They claim a tax write off on the cost of the loans. Mqurice