How much responsibility do overzealous homeowners bear for the 08 crash?

[☑︎#VoteDemocrat]

did dudes really think they could afford 200-300K homes on meager salaries?

Then blame it in "being pushed" to sign?

I support predatory lending legislation...but when I hear some of these stories, you gotta wonder what some people were thinking.

i'm not even talking about those who were trying to flip homes as investment vehicles and what not.

 

[Dusty Bake Activate]

Even if they knew on some level they couldn't afford them, they were people who were just trying to have something better for their family when the opportunity was presented to them, and grab their piece of the mythical American dream we've all been sold. They weren't thinking "Hmm...what if I get foreclosed on and so do a bunch of others and the greedy fraudster fukks who run the banks have the assets securitized to split risk, fraudulently rated as AAA by ratings agencies and propagated throughout investment banks and hedge funds and it causes a collapse of the financial system. I better not do that. "

Without deregulation of the derivatives market and the stripping away of barriers between commercial and investment banking, it would've just been a mortgage bubble, not an entire world economy bubble, so no. And oh yeah, ★

 

[No_bammer_weed]

^^^ my man's got fukkin solange with a crazy ass smirk as his Avi. *DEAD*

YOUNG!

 

[Mr. Somebody]

did dudes really think they could afford 200-300K homes on meager salaries?

Then blame it in "being pushed" to sign?

I support predatory lending legislation...but when I hear some of these stories, you gotta wonder what some people were thinking.

i'm not even talking about those who were trying to flip homes as investment vehicles and what not.

Ever heard of the bait and switch friend. Thats something homeowners were not expecting. Being able to afford a home and then suddenly not being able to.

 

[Domingo Halliburton]

I agree with Vic but at the same time I hate the phrase "predatory lending."

Either people didn't understand what an adjustable rate mortgage is or they thought just because the banks approved them they could afford it.

 

[Dusty Bake Activate]

I agree inith Vic but at the same time I hate the phrase "predatory lending."

Either people didn't understand what an adjustable rate mortgage is or they thought just because the banks approved them they could afford it.

They usually didn't tell anyone the rates were adjustable though. It was in the contract of course...inside the 664678897 closing docs you sign. And you're responsible for what you sign. But still as far as assigning blame for the financial collapse, struggling folks, many of whom are not very financially literate, trying to buy homes that were offered to them are about dead last on the list of moral culpability.

 

[☑︎#VoteDemocrat]

Even if they knew on some level they couldn't afford them, they were people who were just trying to have something better for their family when the opportunity was presented to them, and grab their piece of the mythical American dream we've all been sold. They weren't thinking "Hmm...what if I get foreclosed on and so do a bunch of others and the greedy fraudster fukks who run the banks have the assets securitized to split risk, fraudulently rated as AAA by ratings agencies and propagated throughout investment banks and hedge funds and it causes a collapse of the financial system. I better not do that. "

Without deregulation of the derivatives market and the stripping away of barriers between commercial and investment banking, it would've just been a mortgage bubble, not an entire world economy bubble, so no. And oh yeah, ★

Well every brick has its place in a home.

I'm talking about STRICTLY the consumer here.

The stock market wouldn't exist if most people knew what was being packaged and sold

...that being said, this isn't about the banks, its about the literacy of the consumer.

 

[DEAD7]

Deregulation taking the fall for limited liability

 

[TLR Is Mental Poison]

Deregulation taking the fall for limited liability

Deregulation + limited liability = a "capitalist's" dream

Push shyt onto people, when it blows up long after you took your commission

Be it an ARM, a CDO or any other 3 letter financial acronym

"The market will never go down".... for people who prey on other people's dreams and ignorance

Yep, def an ideology worth buffing cocks for, eh @DEAD7?

 

[DEAD7]

Deregulation + limited liability = a "capitalist's" dream

Push shyt onto people, when it blows up long after you took your commission

Be it an ARM, a CDO or any other 3 letter financial acronym

"The market will never go down".... for people who prey on other people's dreams and ignorance

Yep, def an ideology worth buffing cocks for, eh @DEAD7?

I oppose limit liability, and believe had shareholders and corporate execs been fully liable, we wouldnt have seen a quarter of the fukkery we did.

 

[Broke Wave]

They usually didn't tell anyone the rates were adjustable though. It was in the contract of course...inside the 664678897 closing docs you sign. And you're responsible for what you sign. But still as far as assigning blame for the financial collapse, struggling folks, many of whom are not very financially literate, trying to buy homes that were offered to them are about dead last on the list of moral culpability.

The thing that's lost in all this is that a lot of what the banks and lenders did was literally illegal and they still were not prosecuted for it. The robo-signing, racially targeted loans, faulty foreclosures etc all warranted fines instead of an actual criminal prosecution.

 

[Broke Wave]

Another thing lost on all this is Napoleon defends the rich and powerful once again

It's like it doesn't even matter what it's about, his logical process is "well these people have all the power and money, they've got to be right"

 

[Rev. Jesse Lee Peterson]

100 puhcent uh it. da financhal crash happen becuz blas took moregauges and spent dere money on rims and sneekers insted uh payin dem.

 

[DEAD7]

100 puhcent uh it. da financhal crash happen becuz blas took moregauges and spent dere money on rims and sneekers insted uh payin dem.

 

[Gains]

100 puhcent uh it. da financhal crash happen becuz blas took moregauges and spent dere money on rims and sneekers insted uh payin dem.