Post A Reply
my profile
login
|
register
|
search
|
faq
|
forum home
»
Allstocks.com's Bulletin Board
»
Off-Topic Post, Non Stock Talk
»
Radical bailout plan has a jawdropping price tag
» Post A Reply
Post A Reply
Login Name:
Password:
Message Icon:
Message:
HTML is enabled.
UBB Code™ is enabled.
[QUOTE]Originally posted by wallymac: [QB] [b]Time is the key. Yet as Americans our want it all want it now attitude shines yet again. Sort of what got us into this mess in the first place.[/b] The problem I see with the whole idea that the average American is to blame for getting over extended is that the banks and financial institutions had the final say in extending the credit. I worked for many years in the retail automotive industry doing finance. Every lender have criteria for making a loan. One huge part was debt to income ratio. If your finances were out of whack, you either had to payoff some debt or you didn't get the loan no matter how great your credit rating was. The problem was that things were going so well that banks/leading institutions wanted their part of the pie and loosened their lending criteria. No one forced them to do this, it was all about profit and greed. Which is OK until the chit hits the fan. Many in this country just don't have the necessary education, especially when it comes to finances. They believe the bankers/lenders when they are told they can do it. What those individuals not understand is the unforeseen circumstances, like gas more than doubling in a short span, which also increased the price of food and just about everything else. I'm not trying to say they are blameless but it's not much different than getting your news from one source, be it Fox or MSNBC and taking it as gospel. Nah but that never happens. [/QB][/QUOTE]
Instant Graemlins
Instant UBB Code™
What is UBB Code™?
Options
Disable Graemlins in this post.
*** Click here to review this topic. ***
Contact Us
|
Allstocks.com Message Board Home
© 1997 - 2021 Allstocks.com. All rights reserved.
Powered by
Infopop Corporation
UBB.classic™ 6.7.2