Broke-- The New American Dream
- Thread starter marketsurfer
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litsen you cock sucking mother fucker.... if you dont need income verification and can get 200% of the home value in the form of a loan....the same will happen 10 out of 10 times....get it...
If the lender knows this then who really is at fault?? what dont you get...that people are not responsible for their actions...ok they arent, so make sure their actions dont fuck the rest...get it
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Quote from ElCubano:
if you dont need income verification and can get 200% of the home value in the form of a loan....this will happen 10 out of 10 times....get it...
Not every one took the crack.
Wrong again moron. Honest responsible people won't take it. But on top of being stupid, you obviously don't understand honesty and responsibility so I don't expect you to get what I'm saying.
Quote from ElCubano:
litsen you cock sucking mother fucker.... if you dont need income verification and can get 200% of the home value in the form of a loan....the same will happen 10 out of 10 times....get it...
Responsible people dont have low FICA scores nor, by your own admission, would consider taking an absurd loan...now
How many people who have low fica scores and are not honest or responsible would take this type of loan??? I'd say a boat load....even guys specualting taking a risk with good intentions would take out these types of easy loans...
Imagine had you been able to purchase TECH stocks in the 99 bubble with no income verification and at 200% .....wow ugly...yeah let me get $300k in NTBK...
Again would you loan a guy 200% with no money down and no income verification?? Yes you would....If you were making a gazzillion dollars on the back end and you werent lending your own money....
I do not think many of you ever have had 400 staff working for you. Perhaps you would then have known about the "Peters principle" which means that every organisation gets the staff it deserves. What is meant by this is that one leads by example. The staff lower on the ladder will always try to mimic the one at the top in order to climb the ladder.
This translates into that if the one at the top is a spend thrift then the ones lower on the ladder will be likewise.
If the rulers of the country tell you that the economy is healthy and the bankers tell you that you should take out the loan for this new house / big SUV and that you can afford it and if you see that credit card limits are just automatically raised by the banks without being asked for then do you think that the average couch potato is going to say "no, I don't want that increased spending limit on my credit card"?
Why does Wall street call the average mom and pop investor "goats"? As there is some expression "when one sheep has crossed then sure more are to follow"? People are like lemmings and if one dork makes some fast buck you can sure bet that other deadbeats are going to try to pull the same thing.
Sure there is some social responsibility but there is a big difference between the average couch potato and the more educated people. The more educated you are the more you plan ahead. The lower echelons only are interested in how much money they have in hand now and don't give a damn about tomorrow. Whereas some more intelligent people will look further ahead and "invest in their future", in other words they know that if they play their cards right and do some sacrifices now then in a year or in five years time they'll be better off. (and that is why they studied in the first place)
In this way the average couch potato is no different from a three year old eating too much candy. The kid does not think ahead and considers that (s)he may have a belly ache later on from too much candy. Same same with the couch potato spending more than (s)he is earning. Had a neighbour like that, paying one credit card with another and it went on and on. Broke up with his first wife because she went mad at him about it and cut his credit cards up.
He sold his first house at an inflated price, bought a new place on no deposit and spend all the money on trips, new car, and otehr usless stuff. Now his assets are negative and he cannot get more finance. If he gets behind his payments then the banks will say "foreclosure" but what will that achieve? If no-one is going to buy at a decent price all it will achieve is the death spiral of real estate prices.
It is all about being prudent in lending money. The banks do not want to take responsibility: they all blame someone else. "Oh but we have derivatives, we are covered" and the pyramid scheme goes on.
And the government has created that environment.
It all comes down to "lead by example".
Peace to ya all and may the force be with you in these difficult times to come,
M.
This translates into that if the one at the top is a spend thrift then the ones lower on the ladder will be likewise.
If the rulers of the country tell you that the economy is healthy and the bankers tell you that you should take out the loan for this new house / big SUV and that you can afford it and if you see that credit card limits are just automatically raised by the banks without being asked for then do you think that the average couch potato is going to say "no, I don't want that increased spending limit on my credit card"?
Why does Wall street call the average mom and pop investor "goats"? As there is some expression "when one sheep has crossed then sure more are to follow"? People are like lemmings and if one dork makes some fast buck you can sure bet that other deadbeats are going to try to pull the same thing.
Sure there is some social responsibility but there is a big difference between the average couch potato and the more educated people. The more educated you are the more you plan ahead. The lower echelons only are interested in how much money they have in hand now and don't give a damn about tomorrow. Whereas some more intelligent people will look further ahead and "invest in their future", in other words they know that if they play their cards right and do some sacrifices now then in a year or in five years time they'll be better off. (and that is why they studied in the first place)
In this way the average couch potato is no different from a three year old eating too much candy. The kid does not think ahead and considers that (s)he may have a belly ache later on from too much candy. Same same with the couch potato spending more than (s)he is earning. Had a neighbour like that, paying one credit card with another and it went on and on. Broke up with his first wife because she went mad at him about it and cut his credit cards up.
He sold his first house at an inflated price, bought a new place on no deposit and spend all the money on trips, new car, and otehr usless stuff. Now his assets are negative and he cannot get more finance. If he gets behind his payments then the banks will say "foreclosure" but what will that achieve? If no-one is going to buy at a decent price all it will achieve is the death spiral of real estate prices.
It is all about being prudent in lending money. The banks do not want to take responsibility: they all blame someone else. "Oh but we have derivatives, we are covered" and the pyramid scheme goes on.
And the government has created that environment.
It all comes down to "lead by example".
Peace to ya all and may the force be with you in these difficult times to come,
M.