GoFuckYourself.com - Adult Webmaster Forum - View Single Post - A simple tax analogy to explain how it works.

Sly · 10-24-2012, 06:40 PM

Quote:

Originally Posted by kane

What annoys me most is that nothing has been done to change the laws that were used by these banks to give out these mortgages that caused all these issues so there is nothing keeping this from happening again other than the banks just realizing it is not a good idea. The problem with relying on them self policing is that last time they caused chaos they got bailed out so there is no reason to think this won't happen again in another 6-10 years.

I don't think they are going to change. The truth is, we the people, still want them. We want things we can't afford. In order to get the things that we can't afford, somebody needs to give us the money to do that. The only people that are going to give us the money so that we can buy things that we can't afford are people that know how to play a very tricky game and win every time.

What is going to happen to the congressman that places a vote that forces banks to stop giving out ANY sort of mortgage or car loan? That guy is going to get kicked out of office. Who will get put in office? The guy that makes those loans possible again.

Up and down. There have been dozens of stock market crashes over the last 200 years. We are a greedy, lazy people, eager to take the easy way out time and time again.

30 year mortgages, of any sort, are a very new thing. The US government pushed them into play after the Great Depression to get things rolling again. Ironic.