Causes of Crime

[ZeroJunk]

Originally Posted by merrylander

The banks wanted no part of it? You must be joking, for the banks it is a license to print money.

Mortgage broker finds a lender, pockets 1% and disappears

Lender bundles mortgage, pockets 2% sells security bundle and disappears.

Title company sells poor sod $400 worth of title insurance and get 80% as its fee ($320)

The banks wanted no part of holding the debt, loaning out deposits and savings, or making long term loans on short term money.

The government wanted it. So, banks came up with these instruments because of government mandate.

And, sure they made money at it. Until it crashed.

If the government had stayed out of it with their CRA and other ways they were going to "help" and the banks loaned money with the traditional caution there would not have been a bubble.

But, a lot of people who are still in homes they own to this day would not be.

[ZeroJunk]

Originally Posted by BlueStreak

One could also argue that the demonization and reining in of "entitlements" is purely political, feeding off of the desires and votes of cheap skates such as yourself.

Look, if you can figure out how to separate the truly needy from the simply sorry we could work all this out easily.

[bobabode]

Originally Posted by ZeroJunk

Look, if you can figure out how to separate the truly needy from the simply sorry we could work all this out easily.

Sadly. people of your ilk like Paul Ryan would simply deny everyone help because a few abuse the system.

[ZeroJunk]

Originally Posted by bobabode

Sadly. people of your ilk like Paul Ryan would simply deny everyone help because a few abuse the system.

It would be wonderful if there were only a few.

[BlueStreak]

Originally Posted by ZeroJunk

Look, if you can figure out how to separate the truly needy from the simply sorry we could work all this out easily.

Your willingness to starve the truly needy because of the simply sorry speaks volumes. It negates my need to respond.

Thank you.

Dave

[bobabode]

Originally Posted by ZeroJunk

It would be wonderful if there were only a few.

Personally I think you're fulla crap on that one but for the sake of argument, let's see the numbers and sources for your opinions. In other words, put up or shut up.

[BlueStreak]

Originally Posted by Tom Joad

When I bought my first house in 1978 the bank put me through the ringer to get a mortgage. The same thing happened on house number 2 in 1986.

Then, in 2004, on house number 3 things changed. I had to deal with a "Mortgage Broker" And he acted pissed because he wanted me to go for the full amount I was approved for, instead of 40% of that amount, which was the maximum I felt comfortable with. In other words he tried to talk me into taking out a loan that would have me eating sitting on a milk crate eating Ramen noodles under a 15 Watt light bulb so that he could get a bigger commission. He didn't give a shit about whether or not I defaulted.

I said "No Thanks", but that's because I've been around the block a few times.

I can see where a lot of naive young people might think "If they approved me for that much, it must be OK".

This pretty much mirrors my experiences. My first home was (is) small and the payments light, but the path to acceptance of my loan application was tough. My last home purchase went like this;

"You qualify for $225,000."

"I don't care, I told you no more than $110,000."

"You could have waterfront property."

"Don't care. $110,000 is it."

(Stern look)--"And, how am I ever supposed to retire off of that?"


It was all about them. It always is. The only thing the government was guilty of, at any point, was trusting a pack of wolves to behave nicely in from of a pile of fresh meat.

Zero takes their side because of kindred spirit. He's projecting.

Dave

[bobabode]

"Zero takes their side because of kindred spirit."
Indeed. Funny how these followers of the 'survival of the fittest' aspect of Darwinism also twist the 'Golden Rule' to their advantage.

[Tom Joad]

Originally Posted by bobabode

"Zero takes their side because of kindred spirit."
Indeed. Funny how these followers of the 'survival of the fittest' aspect of Darwinism also twist the 'Golden Rule' to their advantage.

The only time they are for "Survival of the Fittest" is when they know the game is rigged in their favor.

They are terrified of a real level playing field.

[BlueStreak]

Originally Posted by Tom Joad

The only time they are for "Survival of the Fittest" is when they know the game is rigged in their favor.

They are terrified of a real level playing field.

Or coming face to face with those they rip off. Hence Limbaugh and other pundits shunning the crowd and wealthy businessmen hiding behind gated/walled communities and armies of rent-a-cops.

There's a tiny voice in the back of their minds reminding them that some of the little people have figured out the game. I hide behind nothing. I live off of the fruit of my own labors.

Dave