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The States: At Least Michigan is Better Than Indiana

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Re: The States: At Least Michigan is Better Than Indiana

trixR4kids said:
There’s also a difference between zero culpability and equal culpability.
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For the crappy loans, I'd trend towards more towards equal.

For example, as DX stated, I know I can't afford a 300K house. Why would I take a loan out for one?
 
Re: The States: At Least Michigan is Better Than Indiana

You either haven’t read anything Tallon posted or you’re being completely disingenuous.
 
Re: The States: At Least Michigan is Better Than Indiana

trixR4kids said:
You either haven’t read anything Tallon posted or you’re being completely disingenuous.
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I have read, and I am not disingenuous. I know what I can afford. I buy what I can afford. Simple as that. I don't push my budget, I don't count on future income increases/etc. I hate credit/loans/etc in the first place. I've had 2 loans in my life (both for vehicles). The most recent one, the bank asked if I ever had a loan, since my first one was off the records (took the first loan 15 years ago at that particular point).
 
Re: The States: At Least Michigan is Better Than Indiana

Well then feel free to push back on his points with something other than your personal purchasing history.
 
Re: The States: At Least Michigan is Better Than Indiana

The Rube said:
I have read, and I am not disingenuous. I know what I can afford. I buy what I can afford. Simple as that. I don't push my budget, I don't count on future income increases/etc. I hate credit/loans/etc in the first place. I've had 2 loans in my life (both for vehicles). The most recent one, the bank asked if I ever had a loan, since my first one was off the records (took the first loan 15 years ago at that particular point).
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That's fine, but people pushing loans knowing they are planning to bundle them into securities and then not care if they ever get paid off (because they've already gotten their money) should be in jail. Not to mention they're the ones who crashed the economy and hurt the country and the entire world more than than the rubes who bought the things (houses and securities, both).

I'll never understand how people with a mindset like yours focus on the individual idiots who bought beyond their means rather than the people who orchestrated the entire farking thing. One is done out of idiocy, the other is done out of malice. Therefore, let's blame the idiots?
 
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Re: The States: At Least Michigan is Better Than Indiana

Right and by definition an idiot clearly doesn’t have the same level of knowledge or information as the malicious actors in this equation.
 
Re: The States: At Least Michigan is Better Than Indiana

unofan said:
That's fine, but people pushing loans knowing they are planning to bundle them into securities and then not care if they ever get paid off (because they've already gotten their money) should be in jail. Not to mention they're the ones who crashed the economy and hurt the country and the entire world more than than the rubes who bought the things (houses and securities, both).

I'll never understand how people with a mindset like yours focus on the individual idiots who bought beyond their means rather than the people who orchestrated the entire farking thing. One is done out of idiocy, the other is done out of malice. Therefore, let's blame the idiots?
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Pretty much how America is set up right now, right?
 
Re: The States: At Least Michigan is Better Than Indiana

unofan said:
That's fine, but people pushing loans knowing they are planning to bundle them into securities and then not care if they ever get paid off (because they've already gotten their money) should be in jail. Not to mention they're the ones who crashed the economy and hurt the country and the entire world more than than the rubes who bought the things (houses and securities, both).

I'll never understand how people with a mindset like yours focus on the individual idiots who bought beyond their means rather than the people who orchestrated the entire farking thing. One is done out of idiocy, the other is done out of malice. Therefore, let's blame the idiots?
Click to expand...
I blame the banks and the government for letting it happen, also, like DX said. There's no singular blame going on.
 
Re: The States: At Least Michigan is Better Than Indiana

The Rube said:
I blame the banks and the government for letting it happen, also, like DX said. There's no singular blame going on.
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Anyone who got suckered into the 23 trillion that was stolen from the treasury is too blame. If you think we have enough white collar crime enforcement you're kidding yourself. And, ever since Dump got elected Warren's new agency that was setup specifically to prevent **** like this has been decimated.

But, hey, if I'm a hick from West Virginia I might be rich someday and not want to pay taxes too.
 
Re: The States: At Least Michigan is Better Than Indiana

I think that was a Wharrgarble, but am not sure. Need a judge's ruling on that one.
 
Re: The States: At Least Michigan is Better Than Indiana

ScoobyDoo said:
Not Wharrgarble at all. It's pointing out what "part" of the government actually caused this problem.
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And I'm with you on the gov't let this happen. They are partly to blame. However, the lender and borrower are also to blame.
 
Re: The States: At Least Michigan is Better Than Indiana

The Rube said:
And I'm with you on the gov't let this happen. They are partly to blame. However, the lender and borrower are also to blame.
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If the Government had been allowed to do it's job it would have been illegal for the lender to do what they did and the borrower never would have had the option. But as we all know, we have too much regulation and enforcement right now.
 
Re: The States: At Least Michigan is Better Than Indiana

ScoobyDoo said:
If the Government had been allowed to do it's job it would have been illegal for the lender to do what they did and the borrower never would have had the option. But as we all know, we have too much regulation and enforcement right now.
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If a frog had wings, it wouldn't bump its arse every time it jumped. ;)
 
Re: The States: At Least Michigan is Better Than Indiana

unofan said:
That's fine, but people pushing loans knowing they are planning to bundle them into securities and then not care if they ever get paid off (because they've already gotten their money) should be in jail.
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NO! This is legally incorrect. Again, go back to The Big Short. How did Batman know to short the real estate market? Because he had his intern check on the loans that made up the securitized debt, and it was PUBLIC KNOWLEDGE that those mortgages were in default. Making a stupid bet (that real estate would continually go up) is not a legal basis for being indicted and arrested. Fraud is. You can write NINJA loans to strippers if you wish, as long as you disclose their source of income and how much they make (stripping, in this case) truthfully.

Also I believe the NY AG went after Hank Greenberg and the fraudfest that was AIG but for some reason they couldn't nail him on criminal charges but he was fined personally for his shi tty company's disgraceful acts.
 
Re: The States: At Least Michigan is Better Than Indiana

The Rube said:
Sure it is.

Just because it's a fact, doesn't mean people aren't trying to change the particular fact.
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Change which way? The changes that are happening now are going against protecting the consumer.
 
Re: The States: At Least Michigan is Better Than Indiana

ScoobyDoo said:
Change which way? The changes that are happening now are going against protecting the consumer.
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That's not going to last long. I think no matter what, that will change soon, at the latest, it'll start with the next presidential election. Personally, I'd say to Warren, "Hey, you won't be prez, but here, fix this financial stuff. Free reign, and go!" I'd be for that.
 
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