We've already bailed out the Savings and Loans years ago, and we're still paying.
While I'm not defending all individual homeowners, some turned to home equity loans for important things like medical bills and college tuition payments and found themselves in a bind.
Less innocent are the big lenders who, like the Savings and Loan people, often committed outright fraud and now expect to walk away scott free after lining their own pockets.
Working for a small bank that has to compete against these guys for mortgages, I am all for them closing shop. They made a questionable decisions that didn't work out. Too bad. Now I am being told that I need to fund my competition? Um, no thanks.
3 comments:
We've already bailed out the Savings and Loans years ago, and we're still paying.
While I'm not defending all individual homeowners, some turned to home equity loans for important things like medical bills and college tuition payments and found themselves in a bind.
Less innocent are the big lenders who, like the Savings and Loan people, often committed outright fraud and now expect to walk away scott free after lining their own pockets.
I'm sending gay bigfoot over to maul them all.
Bigfoot isn't gay, he's asexual.
Working for a small bank that has to compete against these guys for mortgages, I am all for them closing shop. They made a questionable decisions that didn't work out. Too bad. Now I am being told that I need to fund my competition? Um, no thanks.
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