[ Message Archive | GraniteCityGossip ]

    Re: These Guys Archived Message

    Posted by machine_easy2 on February 28, 2016, 6:10 am, in reply to "Re: These Guys"

    When those standards became to lax because of lender's greed people who were normally a risk were approved.

    It wasn't the lenders that insisted on providing loans to people who they didn't think could pay it back. Black people were less likely to be approved for a loan, so banks were sued, called racist, and arm twisted into making loan products minorities/poor could afford, at least for a little bit (interest only, no/low down payment, et all). That wasn't lenders greed, it was an insidious side effect of liberal good intentions.

    Now the lenders selling off the loans they knew were toxic, as if they weren't, THAT was greed. But if I had people forcing me to invest in something I thought was going to fail, I'd be trying to get what I could back out of that investment myself.

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