Post A Reply
my profile
login
|
register
|
search
|
faq
|
forum home
»
Allstocks.com's Bulletin Board
»
Off-Topic Post, Non Stock Talk
»
who is at fault?
» Post A Reply
Post A Reply
Login Name:
Password:
Message Icon:
Message:
HTML is enabled.
UBB Code™ is enabled.
[QUOTE]Originally posted by Robot: [QB] In Canada we only have a handful of banks with fairly strict, government guided, policies. Therefore one companies' policy applies to thousands of bank branches and it's easy to police and control. Not everyone can afford to buy and maintain their own home. A lot of people are terrible with managing their money. A lender that would tease these people with an unrealistic dream makes me sick. And a government that relaxes the rules to "help" the same people, is not in touch with the reality of day to day life of the people living paycheck to paycheck. Real estate appraisers are guided by the selling prices of the homes in the area and provide copies in their report to the banks as proof. Real estate agents are from outer space and should be watched very carefully. But they to must price the homes according to the surroundings. Some will even price mid to low for a quick sale and move on. In Canada we hire Realtors all the time when buying a house. No contracts or fees and they split the commission, usually 5%, with the agent you buy from. A friend of mine moved to California last August and went in to talk to the bank to see what he needed if he wanted a mortgage. The lender was a friend of a friend and he told him he was waiting to be arrested, along with twenty other lenders, for the loans they had made over the last five years. He said it happened so slowly and gradually that everyone was lending everything just to get the business. And NOBODY told him to stop or be careful or anything. The lender leaned over and told my buddy "now were so scared no one is even talking about it. It's TABOO." You can have structure and guide lines and still not oppress people. If you want something, work for it. Wide open free market only works in a balanced society. Too many buyers or sellers and someone's gonna get hurt. My opinion you have to spreed the blame very thin over everyone involved. If you can't do basic math to see how much money will be left at the end of the month, or if people are lying to you then your done. It's every man for him self people, figure it out. The Gov. deregulated and took a hands almost off approch to banking. That Failed Bad as we can see. But I think the lenders are the most to blame for the way they have conducted them selves and presented their products for sale to you, and to the world. You can't do it, but the whole financial system should be left to fail. Then slowly build it back up with structure, accountability and integrity all overseen by the Gov. Hopefully a competent Gov. In my travels I have noticed a Bank employee in parts of Europe holds higher status than the Mayor. Even the tellers are very professional and proud their position. The US needs to take a hard look at the people running your banks and even take back some of the million dollar bonuses handed out over the last five years. You could call it a "Wake Up Greedy F**ken A**hole Tax." I wish I got a bonus for screwing up. Any bonus should be for performance only. Get back to the basics please. Credit is for those who can afford it. Everyone else has to work first. What ever you do to fix it, do it quick cause it's killing me. I work in the Auto Industry...........for now. [/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