Generic News and Politics Topic

Originally posted by rubymoon:[..]

Most of the world's living on credit anyways.

The bankers won't ever go broke as they award themselves such BIG Bonuses... now that is taking responsibility for only themselves.

Maybe I'm not as clued up politically like u guys... but I do know that the system is all wrong. Poverty stricken families work 4 National minimum wage or lower just to put food on the table v's The fat cats who have their own expense accounts to dine on the best food & drink everyday.

The rich get richer and the poor get poorer it's always been the same...
I don't have the solution but I know the system needs to change.

Class is bullshit.
We are all human beings at the end of the day...
... is it a childs fault if they are born into poverty and spend the rest of their life striving to make ends meet just to eat.

Originally posted by Risto:[..]

I can name as many countries where it does work. People are just too 'stupid' (big mortgages, huge loans, 3 maxed out creditcards) sometimes. And the non-'stupid' will always suffer, since humans are social creatures (nothing wrong with that we should be there for others, not unlimited though).

There is no system that can protect people from themselves.

Originally posted by Yogi:[..]

But the system will have to do it. Yeah, every crisis is people's fault, but people will always do as much as system allows them.

Originally posted by rubymoon:[..]

... is it a childs fault if they are born into poverty and spend the rest of their life striving to make ends meet just to eat.

Originally posted by Yogi:[..]

Yeah, but it's the system that alows mortgages, loans and such stuff. And in the end it's the system that gains profit if someone can't return their loan.

Take for example 2008 recesion in USA. Imagine that you already paid 50% of your mortgage, but you lose your job and therefore you can't pay any more for it. Then bank takes the house from you (without returning what you already paid!). So, banks did make huge profit in 2008. And then USA government gave them 750 billion $.

And you just think to yourself: ok, what the fuck just happened? Did they just took my house away and made huge profit on it and then government gave them award for it?!

Originally posted by Guenther:[..]

It's not a child's fault they are born into poverty, but there are so many examples of people who had nothing and worked their way up to 'riches'. I'll be the first person to tell you I could be rich right now if I had made better choices when I was younger.........

Originally posted by Guenther:[..]

Allows?

I said before and I'll repeat it. If I take out a mortgage that I cant afford, it's my fault no one else's.

Also, banks dont usually make huge profits on foreclosed homes. 1) it costs a lot of money to foreclose a home. 2) it takes a few months at least to finish the process which means the bank is getting no money from you while they have to cover the taxes for a bit before they can resell it. 3) a house may be worth $100,000 but a bank cannot afford to have a house sitting on their books for a long time, so they often sell homes for only what is left on the mortgage - if you already paid off $50,000 out of $100,000, they will probably sell it for $55,000 to $65,000 and there isnt much profit for them. Once I saw a home sell for only the amount of the back taxes on it. That means a $85,000 home sold for $12,000. Yes the system does need changes, but people like to blame the banks because it makes them feel like crap to blame themselves......

Originally posted by wtshnnfb01The commie bums on wallstreet have gained very little mainstream credibility. I expect them top die out by Christmas.