Quote:
Originally Posted by Ron Bennett
Depends on who she owes the money to. If it's another person, I agree wholeheartedly with what you're saying.
Sure she should try to pay the bank loan, but if she can't in a reasonable time period, then why should she? The bank isn't ethical - they just do whatever it takes to make more money. And yes, banks literally "make" money for loans via the Federal Reserve. As for what the bank is losing ... likely little to nothing. Borrow money from the FED at 0.00-0.25 and loan out at 10% or whatever - the bank is making a bundle even if a large number of borrowers default; it's already factored in ... and, especially if it's a large bank, they've miscalculated their exposure, no problem, the government will bail them out.
Bottom line, ethics mean little to nothing in business, especially when the framework itself is corrupt and tilted against the average person (read a EULA or consumer agreement sometime; credit cards can charge any interest rate they want and yet an individual legally can't). One needs to look out for their best interests just like businesses do for theirs.
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If you are willing to screw over a bank, you are willing to screw over someone else. It doesn't matter what someone else's ethics are, it shows clearly what your ethics are when you go about screwing over the bank because you think they did you wrong (when in reality, you probably fucked up just as much as they did.)
Your very last line pretty much sums up the whole story. "One needs to look out for their best interests." When this person that owes money now needs help again in the future, this person is going to be looking for another scapegoat because this person felt screwed over.