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The mortgage bubble was the result of some very careful planning and was meant to cheat the borrowers out of their money and their houses. More importantly it was meant to cheat the Treasury out of billions in bailout money. This is fraud on a massive scale and should be investigated and prosecuted as such.
I posted this the other day:
Quote:
Originally Posted by TrapperJohn
The largest creditor to the US is the SS trust fund. America owes itself 6+ trillion it has borrowed from itself. More than the Chinese, Japan or the UK.
Think about that slight of hand. We owe ourselves the money that we use to repay ourselves the money that we borrowed from ourself.
If you follow the money - really follow the money - where does it end up? Assume the taxpayer picks up the tab. Who is the taxpayer and where does the money come from and go to?
GregW - you have gone so far to the Left you spun around to the Right on many issues. Gun control, personal responsibility, liberty. You are the first likeable "extreme leftist" I've run across in a long time. I think that is how you described yourself.
They only time the banks owe you anything is if they did something illegal to YOU. You signed the piece of paper, you agreed to the loan, you pay it. Pretty simple stuff until our president wants to buy everyones vote.
They only time the banks owe you anything is if they did something illegal to YOU. You signed the piece of paper, you agreed to the loan, you pay it. Pretty simple stuff until our president wants to buy everyones vote.
Exactly right.
This is exactly the type of dialogue that is the byproduct of a political culture that is hell-bent on rewarding bad decisions. This includes corporations and individuals alike. Bailouts were a bad idea on the whole because now we live in a culture where a "payout" is expected for every perceived wrong.
Jet Magazine's assertion that something is owed to its target demopraphic is a perfect example.
Actually, I saw it in the grocery checkout line a few weeks ago and the headline caught my attention. I thought it was something that could be debated on the forum because it asserts that banks "owe" something to a targeted demographic for what largely can be atttributed to bad personal/financial decisions.
What's your opinion of these assertions?
That is strange thinking.
What if the same article, with the same title was on the cover of Newsweek magazine?
Does Newsweek magazine only relate to white people? Blacks and other minorities never buy Newsweek magazine?
So, a black oriented magazine has the article...I certainly don't think they meant 'what do the banks owe black people'.
And, the words 'owe us' were NOT in CAPITAL LETTERS on the magazine cover. That's the OP's interpretation only.
I understand your point. It has some validity. But there's plenty of underlying assertions that come along with a title that asks "What Do Banks Owe Us For Bad Loans?"
The use of the word "us" implies that a specific demographic is deserving of some reward, which in turn implies entitlement. Do you agree with this approach?
Well Jet is a magazine that targets a Black audience, so I agree that the "us" is directed towards its readers (who are predominately black).
I don't think this has anything to do with entitlement. For all I know, the article could have said that the banks owe people an explanation. It is a fact that many people were not told the entire story as it relates to home loans. This is not just among black people. Lots of people got screwed in the housing debacle.
Upper left hand corner. "What Do Banks Owe Us For Bad Loans?"
While there are documented cases of widespread abuse in the home-loan industry, do you think that the "they owe us" mentilty is healthy or productive for society?
Is there any reason to believe that those who signed on the dotted line didn't know what they were signing? If they didn't know what they were signing, and they didn't understand the potential ramifications of those actions, then why didn't they know?
Should minority citizens be prodded into believing they are "owed" something for their own bad decisions? This magazine - which is aimed at African Americans - seems to drive this underlying notion of personal irresponsibility to its targeted demographic.
The Banks are darned if they do, darned if they don't. If they don't lend to Blacks they are racist. If they make loans to Blacks who subsequently default they are racist.
It is a fact that many people were not told the entire story as it relates to home loans. This is not just among black people. Lots of people got screwed in the housing debacle.
Why should a person be told anything. I've closed on 2 houses and a plot of land as well as re-financed a house in the past 15 years. Each transaction could have occurred without a single word being spoken between the parties. It's all there on paper for the person signing to read. If they don't understand it then they should bring someone that does.
Where does Newsweek fit into this equation? Sounds like deflection to me.
The word "us" implies a targeted demographic. Are you of the opinion that "us" represents white people?
No deflection.
I was going to use Good Housekeeping magazine as an example.
In my mind, the word 'us' means all people, no matter their skin color; no matter what magazine prints it.
And just why did you capitalize the words 'OWE US'? Not very sly bigotry. Pretty obvious, actually.
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