Quote:
Originally Posted by Splum
Of course. When you sign the loan YOU are responsible for the payment not Ferrari. Ferrari could give a fuck where you get the money just fucking pay your bills. See its this entitlement attitude and victim mentality that got our country into this mess in the first place, why do you think Obama got voted in? This whole country wants shit for free.
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I hear you what you are saying, but that's the marketplace. One side wants everything, and the other wants to give nothing. They meet in the middle.
A stock holder wants to sell his stock for an infinitely high amount and the buyer wants to pay zero. They meet in the middle. When one side fails then the market breaks down. The banks failed in their duties. The repayment of the loan in irrelevant at this point. The loan should have never been made and everyone at the time knew that.
Yes, borrowers should have known better, but the banks are the professionals in this equation. If a doctor gives you a fatal mix of pills to take home and you take them, do you blame yourself since you ultimately ingested them. Or do you blame the Doctor who was the professional and gave you the bad pills in the first place?
Don't get me wrong, I'm not saying there is no blame for the borrower and they should suffer no consequence. I'm just saying a majority of the blame should fall on the banks. But this is the real world and shit rolls downhill. The taxpayers will clean up the mess and the CEO's have already made off with their millions.
