Prediction: Trump Out/Ryan In

[Pio1980]

The history of banking in the US is rife with examples of abuse due to poor outside oversight. They've proven repetedly they aren't trustworthy to regulate themselves.

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[MrPots]

Originally Posted by Tom Joad

I often hear people talk about how if you are trying to get anything done in some third world shithole country you have to have a pocket full of cash to bribe the officials.

Then I think, don't we have to do pretty much the same thing here, except that we have legitimized it by calling it "fees"?

The one that really gets me is the survey requirement that they have in Florida.

Every time a house changes hands someone has to fork out $400 or so bucks for a survey.

What the fuck is that all about?

How often does a piece of real estate get up and move?

As if the previous surveys have an expiration..........

There's so many scams going in this country. Take the used car scam. You sell it outright it's worth more than if you trade it in. It's either worth something or it isn't.....

[icenine]

Banks actually create wealth for the investor, and put money into our economy when investors create businesses and hire workers. They create money when they loan also because the loan is seen as asset on a bank's ledger. A $300,000 loan becomes $600,000
because 1) $300,000 dollars is seen as bank asset and part of its wealth and 2) there is $300,000 in the economy floating around.

Banks can be good.

[bobabode]

Originally Posted by icenine

Banks actually create wealth for the investor, and put money into our economy when investors create businesses and hire workers. They create money when they loan also because the loan is seen as asset on a bank's ledger. A $300,000 loan becomes $600,000
because 1) $300,000 dollars is seen as bank asset and part of its wealth and 2) there is $300,000 in the economy floating around.

Banks can be good.

We recently refinanced our little condo through WesCom credit union. Formerly, Navy Federal Credit Union, IIRC. We inherited them from my Mom in law who was a WAVE during WWII.

Nice people and the best rate around.

[Tom Joad]

Originally Posted by bobabode

We recently refinanced our little condo through WesCom credit union. Formerly, Navy Federal Credit Union, IIRC. We inherited them from my Mom in law who was a WAVE during WWII.

Nice people and the best rate around.

We use two credit unions. One in Florida that I have been a member of since 1976, and one here that my wife has been a member for even longer. I won't set foot inside of a bank.

[Tom Joad]

Originally Posted by icenine

No Tom
My wife is from the Philippines.

We don't routinely shake down people for the smallest things. In the Philippines to get anything done money is often required. People get shaken down by the traffic police just so the cop (not the city) can get some money. And in many cases there was no traffic infraction to justify the stop.


You talk a lot about stuff you don't know about.

You see Tom you bash your country a lot without really knowing how good you have it. Our system has some major flaws but it is still better than where my wife is from. Way better. That outpatient surgery you are whining about paying? In the Philippines if you cannot pay they let you die.

You sound like those Republicans here that say there are no poor people in the US because they have refrigerators.

https://www.youtube.com/watch?v=Al5E3KbIfeo

[bobabode]

Originally Posted by Tom Joad

You sound like those Republicans here that say there are no poor people in the US because they have refrigerators.

https://www.youtube.com/watch?v=Al5E3KbIfeo

You really need to pull that Palmetto branch outta your sphincter, Joad...

[Tom Joad]

Originally Posted by icenine

We don't routinely shake down people for the smallest things.

Thanks Dude!

That's the perfect word for what closing costs are!

A shakedown!

[Rajoo]

Originally Posted by icenine

What I really should say is people here can whine about the mortgage system all they want but don't realize how fortunate they are they can access the system at all compared with all the millions around the world who can't access any credit system because they are so poor to begin with.

Commenting on the banking or the mortgage system is not a put down, just an observation. And believe me, every time I go to India and look at the living conditions for the average person there, I realize how fortunate we are.

[Tom Joad]

Originally Posted by Rajoo

And believe me, every time I go to India and look at the living conditions for the average person there, I realize how fortunate we are.

I've never been to India.

But I've been to Camden.

https://www.youtube.com/watch?v=9BXCaT2JluI