Dateline NBC

Quote from Trader666:

Borrow $5000 from Guido, don't pay it back and test your theory :p

Not true collectively. Without borrowers there would have been exactly zero loans.
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wow this guy really is that stupid...I feel bad for your parents you must have put them through hell...you are as dense as they come...
 
LOL... with almost every post you show you can't trade. First your victim's mentality which is incompatible with how a trader must think, now this. You probably don't even understand why this shows you're a loser, so you?
Quote from ElCubano:

not to mention she would have been a genuis had her property gone up in value and she sold on one hell of a leverage play....Even samrt mo-fo's who understood the loans saw this as an opportunity to make some mula...
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Quote from IShopAtPublix:

100% of the blame in this crisis goes to Wall St\Various Financial institutions. They were the "sophisticated" parties. If you give a 500,000 mortgage to a bum, and then are shocked the bum can't pay it is your own fault. Wall St securitized that crap and sold it to investors but in addition sold insurance on that crap to the tune of trillions. All the bums in the world could not inflict as much damage as trillions in CDS and CDOs.
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EXACTLY...this "bailout" is for the genius(s) that created these "no risk" portfolio's and sold them to banks etc. and the insurer AIG. The "deadbeats" underwater and under capitalized can flat out walk away, declare BK and start over which would cause a complete collapse of the economy. What the government is trying to do is provide a false sense of security to try and keep people in their over-priced homes that will take them 10-20 years to break even.
 
Quote from ElCubano:

not to mention she would have been a genuis had her property gone up in value and she sold on one hell of a leverage play....Even samrt mo-fo's who understood the loans saw this as an opportunity to make some mula...
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Let's be fair, greed works both ways. Odds are, she would have held too long and still got screwed.

But, that's not the issue here, is it.

Was she foolish? Certainly.

Does that put her in the same category as some fool who buys a "rolex" off the street for $50 and then whines when he learns later on that it's not a $5,000 Rolex(tm)?

No, unless you're as intellectually unsophisticated as Trader666 is.
 
Quote from Trader666:

The losers here and the deadbeats who overextended themselves all know damn well... they're just short on personal responsibility and long on entitlement.
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T666, if you were approached by a homeless person <b>who told you </b>they had no assets or income whatsoever, would you even consider loaning them $1,000 to rent an apartment after they filled out a promissory note? Why or why not?

If that indigent person you loaned $1,000 to failed to secure the apartment, spent the money and could not pay you back, they have no place to live and you are out -$1,000

Who is the victim here?
 
You missed my point. I was addressing two borrower components of home loans: (in)competence and (ir)responsibility. My quote was in response to those who were claiming that borrowers didn't understand what they were doing and I say they knew, they were just irresponsible.

All the people who have come out of the woodwork in this thread to argue that the borrowers are blameless or victims have only proved my point about people lacking personal responsibility.

Which doesn't mean the other bad actors like banks are blameless. But to try to put all the blame on everyone but borrowers, as I said, only proves my point.

Quote from austinp:

Quote from Trader666:

The losers here and the deadbeats who overextended themselves all know damn well... they're just short on personal responsibility and long on entitlement.
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T666, if you were approached by a homeless person <b>who told you </b>they had no assets or income whatsoever, would you even consider loaning them $1,000 to rent an apartment after they filled out a promissory note? Why or why not?

If that indigent person you loaned $1,000 to failed to secure the apartment, spent the money and could not pay you back, they have no place to live and you are out -$1,000

Who is the victim here?
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no you seem to keep on missing the point....while borrowers are obviously to blame for taking on a loan they may have not been able to handle they ARE NOT to blame for this crisis, they are to blame for their own mishap...how stupid can you be homey?? seriously
 
This documentary is extremely disturbing in that none of the borrowers took responsibility for having gamed the system which then rebounded and whacked them on the head. It makes me angry to hear anyone of them claim to be a victim when they were clearly being irresponsible. Having defaulted and reneged on their obligations, it is clear that they still get to live a good life. And yet they tell the world that they are angry. WTF!!!
 
There are no victims in the financial crisis, just abusers who ended up digging a hole in themselves through their addiction to high living.
 
Quote from mingsphinx:

There are no victims in the financial crisis, just abusers who ended up digging a hole in themselves through their addiction to high living.
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Speak for yourself. I'm a taxpayer who lived within his means, 2/3 the way through a 15yr fixed-rate mortgage and didn't take part in any of this overheated housing bubble directly or indirectly via a HELC.

Me, and others like myself are very much the victims in this crap.
 
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