Explain Santelli's Logic (Today's New Comment) To Me
- Thread starter nravo
- Start date
You obviously dont think that personal responsibility extends to people in charge of banks.
Banks encouraged lying with 'stated income' also known as 'liar loans' or 'no-doc' loans.Cute,huh?Then they failed to verify the lies they had encouraged borrowers to make-of course not because they would have had to deny loan and lost fees.No problem because when the whole thing implodes the sucker taxpayer and shareholders are gonna be left holding the bag and the bank fat cats will be driving the ferraris.
It s amazing you dont see the stupidity or naivety of your logic.You still think that the bank system engineered by financial wizards got hoodwinked by uneducated/marginally educated people with horrible credit ,no net worth and other "personal responsibility" issues. When did your brain fart on you?
ps...its fine when banks screw the taxpayer or customer in the name of profits but when they screw the shareholder as well via criminally negligent practices like 'liar loans',this should be where you should get outraged as an invisible hand adherent.
Anyone who writes, as you did, that failing to verify income on a loan application (passive negligence) is "obviously" worse than a borrower lying about it (active fraud) is a moronic lowlife who needs to be protected from themselves.
Show me where I said the concept of responsibility doesn't apply to banks or where I said any of the bullshit you claim I think.
You don't even have the brainpower to understand my point let alone argue it.
Show me where I said the concept of responsibility doesn't apply to banks or where I said any of the bullshit you claim I think.
You don't even have the brainpower to understand my point let alone argue it.
god,do you think personal responsibility is some arcane concept...did you just discover what it means? do you think nobody but you knows what is?you sound like a 5yr old...
It is banks etc that sought out and targetted irresponsible,financially worthless people to sell these loans to.
They were called liar loans,stated income,subprime and were the brainchild of the banks.The banks also encouraged people to lie on their incomes.
I know you are too bran dead to understand this but there it is.Please go back to grade school to continue this dialogue.
Personal responsibility is obviously beyond your grasp with your pathetic victim's mentality blaming it all on the banks. Are you so bitter because your parents are getting foreclosed on and you'll have to move out of their basement? Grow up and take responsibility for your actions and your life will improve.
look,if you hire crackheads to fix your plumbing,dont be surprised that they rip you off-anybody that expects a crackhead to do a good job or be responsible is an idiot(you perhaps).
That is exactly what the banks did and worse.They purposely sought out irresponsible people to give loans to-that is what subprime is all about and designed for.Im sorry you dont understand anything about subprime or real estate.
Please, the only people crying victim here are the banks that perpetrated this fraud and are now begging the horrible govt/taxpayer to bail them out of their self inflicted fraud.
The banks scam backfired on them and the taxpayer.
ROTFLMAO!!!! Thanks for making my evening with your simplistic and moronic discombobulation of the facts. I about fell out of my chair laughing when I read it.
FYI Clinton and Bush, congress, the Federal Reserve, the SEC, HUD, credit rating agencies, investment banks, mortgage brokers, speculative borrowers, fraudulent borrowers, etc., etc., were all at fault. It wasn't just a "bank scam" that "backfired."
When you're in a hole stop digging. Each post exposes more of your ignorance.
Or feel free to keep entertaining me
FYI Clinton and Bush, congress, the Federal Reserve, the SEC, HUD, credit rating agencies, investment banks, mortgage brokers, speculative borrowers, fraudulent borrowers, etc., etc., were all at fault. It wasn't just a "bank scam" that "backfired."
When you're in a hole stop digging. Each post exposes more of your ignorance.
Or feel free to keep entertaining me