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Seems like countries from Spain to Japan are trying to get their economies righted after being swamped by the financial tsunami coming out of the US housing and economic meltdown. Our tolerance of outright criminal behavior by Wall Street investment banks, and their predatory lending to home buyer (usually investors) who either could not or had not intention of ever paying off the loans has caused terrible misery around the world. Do you really think that the rest of the world is not cursing us daily?
In a global world of commerce, which out leaders have pushed for decades, the biggest economy must act as a model of discipline, ethical conduct, and competence. We failed the world. BIG TIME.
Does this bother you? If so, how do we avoid ever doing this again?
Or gardeners who can't speak English. The brokers and busdrivers were irresponsible, but that is the tip of the ice berg. Where do you think the capital came from for such dubious sales, and who would ever make the offer if they cared about servicing the loan? And who would give a loan like that a AAA rating? Wall Street is who.
Seems like countries from Spain to Japan are trying to get their economies righted after being swamped by the financial tsunami coming out of the US housing and economic meltdown. Our tolerance of outright criminal behavior by Wall Street investment banks, and their predatory lending to home buyer (usually investors) who either could not or had not intention of ever paying off the loans has caused terrible misery around the world. Do you really think that the rest of the world is not cursing us daily?
In a global world of commerce, which out leaders have pushed for decades, the biggest economy must act as a model of discipline, ethical conduct, and competence. We failed the world. BIG TIME.
Does this bother you? If so, how do we avoid ever doing this again?
I think we could restore world peace, end hunger and poverty globally, double foreign aid, and the rest of the world would still curse us daily. They can all GF themselves as far as I'm concerned.........
Of course the bankers should be hung for what they did, but I can't believe some zhit bag would take on a mortgage they cant afford, they should be held accountable also.
I think we could restore world peace, end hunger and poverty globally, double foreign aid, and the rest of the world would still curse us daily. They can all GF themselves as far as I'm concerned.........
What a crap attitude. We hose the world economy and you tell them to GF themselves? Oh wait, you're conservative. You guys always blame someone else for your own failures. This macho stuff gets old.
We are the light of the world. We should have out chit together. We should not allow brazen Wall Street criminals to run our country. We let that happen. No one else.
Or gardeners who can't speak English. The brokers and busdrivers were irresponsible, but that is the tip of the ice berg. Where do you think the capital came from for such dubious sales, and who would ever make the offer if they cared about servicing the loan? And who would give a loan like that a AAA rating? Wall Street is who.
I came from people who were willing to risk money. When they gambled and lost they should have eaten their losses and moved on or went under. INstead we bailed them out thereby teaching them nothing.
Or gardeners who can't speak English. The brokers and busdrivers were irresponsible, but that is the tip of the ice berg. Where do you think the capital came from for such dubious sales, and who would ever make the offer if they cared about servicing the loan? And who would give a loan like that a AAA rating? Wall Street is who.
Quote:
Originally Posted by Ghostrider275452
Of course the bankers should be hung for what they did, but I can't believe some zhit bag would take on a mortgage they cant afford, they should be held accountable also.
Disagree with the "hanging" part, but agree with the rest.
Weren't the banks pressured by the federal government at one point to loan money to people so they could buy houses? I mean, they could have said "no" at a certain point, but I seem to recall something about that. I'm surprised that people managed to take out such huge loans in the first place.
Seems like countries from Spain to Japan are trying to get their economies righted after being swamped by the financial tsunami coming out of the US housing and economic meltdown. Our tolerance of outright criminal behavior by Wall Street investment banks, and their predatory lending to home buyer (usually investors) who either could not or had not intention of ever paying off the loans has caused terrible misery around the world. Do you really think that the rest of the world is not cursing us daily?
In a global world of commerce, which out leaders have pushed for decades, the biggest economy must act as a model of discipline, ethical conduct, and competence. We failed the world. BIG TIME.
Does this bother you? If so, how do we avoid ever doing this again?
No, I am not ahamed, but I hope the world learned what happens when you allow banks run unregulated. It turned Wall Street into a casino, where the banks were gambling with other people's money, and when it blew up in their faces, they turned to the tax payer and aked to be rescued.
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