[geeks] [rescue] E250 temperatures

[Jonathan C. Patschke]

On Tue, 15 Apr 2008, Phil Stracchino wrote:

>> The home loan industry sold the amereican consumer a bill of goods
>> and now they want to be bailed out. My comment is too bad so sad, you
>> screwed up and now you have to pay the price.
>
> +1.  The banking industry has been screwing everyone in sight for
> thirty years for the sake of profit.  Now they want to talk away and
> leave all the people they cheated and/or talked into mortgages they
> couldn't afford holding the baby?  Fuck that shit.

It is not the responsibility of the banks to ensure that the general
public is capable of performing basic arithmetic or exercising common
sense.

When people sign to agreements, they should study them, they should run
the numbers, and they should find out if they're actually capable of
meeting their end of the bargain.  If the agreement is slanted so as to
give the other side a tremendous advantage, DON'T SIGN!  Signing a
crooked agreement and then looking for a way out after the fact, knowing
that things probably weren't on the level at the start, is no more an
honest position than crafting a crooked agreement in the first place!

Yes, the banks are thieves, but the people who bought more home than
they could afford aren't much better.  The unfortunate side of things is
the homeowners only lose whatever limited capital they put into the
property.  The banks, however, turned around and sold that debt to
investors, who are now discovering they're in a much higher degree of
risk than they'd been lead to believe.  A fair amount of this bad debt
has likely found its way into people's retirement funds and such.

-- 
Jonathan Patschke | "There is no such thing as a short of reserves...
Elgin, TX         |  one bank can have a problem...the Fed can print
USA               |  money, there is no shortage."
.                 |     --Jim Glassman, US Economist, JPMorgan Chase