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May 21, 2008 at 11:47 AM #12807May 21, 2008 at 12:16 PM #209112
evolusd
ParticipantI completely disagree. They failed to ask the ‘victims’ this simple question: “So what exactly did you spend the money on that you BORROWED?”
I have little pity for those who borrower more than they can handle and I definitely don’t see the banks as predatory (traditional banks anyway). If you don’t pay back your debt with the interest you agreed to, you should be punished. Of course, there are those rare cases where a medical emergency or other unfortunate circumstance contribute to a person’s inability to pay. Those types should be helped…but they are not the norm.
May 21, 2008 at 12:16 PM #209176ParticipantI completely disagree. They failed to ask the ‘victims’ this simple question: “So what exactly did you spend the money on that you BORROWED?”
I have little pity for those who borrower more than they can handle and I definitely don’t see the banks as predatory (traditional banks anyway). If you don’t pay back your debt with the interest you agreed to, you should be punished. Of course, there are those rare cases where a medical emergency or other unfortunate circumstance contribute to a person’s inability to pay. Those types should be helped…but they are not the norm.
May 21, 2008 at 12:16 PM #209208ParticipantI completely disagree. They failed to ask the ‘victims’ this simple question: “So what exactly did you spend the money on that you BORROWED?”
I have little pity for those who borrower more than they can handle and I definitely don’t see the banks as predatory (traditional banks anyway). If you don’t pay back your debt with the interest you agreed to, you should be punished. Of course, there are those rare cases where a medical emergency or other unfortunate circumstance contribute to a person’s inability to pay. Those types should be helped…but they are not the norm.
May 21, 2008 at 12:16 PM #209229ParticipantI completely disagree. They failed to ask the ‘victims’ this simple question: “So what exactly did you spend the money on that you BORROWED?”
I have little pity for those who borrower more than they can handle and I definitely don’t see the banks as predatory (traditional banks anyway). If you don’t pay back your debt with the interest you agreed to, you should be punished. Of course, there are those rare cases where a medical emergency or other unfortunate circumstance contribute to a person’s inability to pay. Those types should be helped…but they are not the norm.
May 21, 2008 at 12:16 PM #209264ParticipantI completely disagree. They failed to ask the ‘victims’ this simple question: “So what exactly did you spend the money on that you BORROWED?”
I have little pity for those who borrower more than they can handle and I definitely don’t see the banks as predatory (traditional banks anyway). If you don’t pay back your debt with the interest you agreed to, you should be punished. Of course, there are those rare cases where a medical emergency or other unfortunate circumstance contribute to a person’s inability to pay. Those types should be helped…but they are not the norm.
May 21, 2008 at 1:21 PM #209169ucodegen
ParticipantI agree with evolusd.
There have been studies of poor people who win multi-million dollar lotteries. They are generally poor again in 1 to 2 years. It is amazing how they manage to burn through so much money.
The difference between rich and poor has been proven to be in the spending and saving habits. If a poor person has extra money, they immediately spend it. They also don’t want to cut back. The prefer to try to spend like they are rich.
People who became wealthy (as opposed to inherited weath) try to find ways to make that extra money work for them.
Banks make money without the ‘vulnerable’. You are forgetting construction and business loans for large companies. It would be interesting to find out just who this
‘banking industry chief’ is.May 21, 2008 at 1:21 PM #209232ParticipantI agree with evolusd.
There have been studies of poor people who win multi-million dollar lotteries. They are generally poor again in 1 to 2 years. It is amazing how they manage to burn through so much money.
The difference between rich and poor has been proven to be in the spending and saving habits. If a poor person has extra money, they immediately spend it. They also don’t want to cut back. The prefer to try to spend like they are rich.
People who became wealthy (as opposed to inherited weath) try to find ways to make that extra money work for them.
Banks make money without the ‘vulnerable’. You are forgetting construction and business loans for large companies. It would be interesting to find out just who this
‘banking industry chief’ is.May 21, 2008 at 1:21 PM #209262ParticipantI agree with evolusd.
There have been studies of poor people who win multi-million dollar lotteries. They are generally poor again in 1 to 2 years. It is amazing how they manage to burn through so much money.
The difference between rich and poor has been proven to be in the spending and saving habits. If a poor person has extra money, they immediately spend it. They also don’t want to cut back. The prefer to try to spend like they are rich.
People who became wealthy (as opposed to inherited weath) try to find ways to make that extra money work for them.
Banks make money without the ‘vulnerable’. You are forgetting construction and business loans for large companies. It would be interesting to find out just who this
‘banking industry chief’ is.May 21, 2008 at 1:21 PM #209282ParticipantI agree with evolusd.
There have been studies of poor people who win multi-million dollar lotteries. They are generally poor again in 1 to 2 years. It is amazing how they manage to burn through so much money.
The difference between rich and poor has been proven to be in the spending and saving habits. If a poor person has extra money, they immediately spend it. They also don’t want to cut back. The prefer to try to spend like they are rich.
People who became wealthy (as opposed to inherited weath) try to find ways to make that extra money work for them.
Banks make money without the ‘vulnerable’. You are forgetting construction and business loans for large companies. It would be interesting to find out just who this
‘banking industry chief’ is.May 21, 2008 at 1:21 PM #209318ParticipantI agree with evolusd.
There have been studies of poor people who win multi-million dollar lotteries. They are generally poor again in 1 to 2 years. It is amazing how they manage to burn through so much money.
The difference between rich and poor has been proven to be in the spending and saving habits. If a poor person has extra money, they immediately spend it. They also don’t want to cut back. The prefer to try to spend like they are rich.
People who became wealthy (as opposed to inherited weath) try to find ways to make that extra money work for them.
Banks make money without the ‘vulnerable’. You are forgetting construction and business loans for large companies. It would be interesting to find out just who this
‘banking industry chief’ is.May 21, 2008 at 1:42 PM #20918934f3f3f
ParticipantOh come, come now evolusd! How about $40k for college fees. Even I have been in this country long enough to know that credit cards are how nearly everyone purchases everything from food to travel to TV’s. But that is missing the point, which is that people who don’t necessarily have the means or experience to understand how quickly debt can pile up, are systematically targeted. Moreover, there are much wider ramifications for an economy based on debt, which should now be very apparent from the current credit crisis. Sure, there are those who use and abuse the system irresponsibly for personal gain, but by and large enticements to borrow rarely educate or advertise the potential downside or threats.
May 21, 2008 at 1:42 PM #209251ParticipantOh come, come now evolusd! How about $40k for college fees. Even I have been in this country long enough to know that credit cards are how nearly everyone purchases everything from food to travel to TV’s. But that is missing the point, which is that people who don’t necessarily have the means or experience to understand how quickly debt can pile up, are systematically targeted. Moreover, there are much wider ramifications for an economy based on debt, which should now be very apparent from the current credit crisis. Sure, there are those who use and abuse the system irresponsibly for personal gain, but by and large enticements to borrow rarely educate or advertise the potential downside or threats.
May 21, 2008 at 1:42 PM #209281ParticipantOh come, come now evolusd! How about $40k for college fees. Even I have been in this country long enough to know that credit cards are how nearly everyone purchases everything from food to travel to TV’s. But that is missing the point, which is that people who don’t necessarily have the means or experience to understand how quickly debt can pile up, are systematically targeted. Moreover, there are much wider ramifications for an economy based on debt, which should now be very apparent from the current credit crisis. Sure, there are those who use and abuse the system irresponsibly for personal gain, but by and large enticements to borrow rarely educate or advertise the potential downside or threats.
May 21, 2008 at 1:42 PM #209304ParticipantOh come, come now evolusd! How about $40k for college fees. Even I have been in this country long enough to know that credit cards are how nearly everyone purchases everything from food to travel to TV’s. But that is missing the point, which is that people who don’t necessarily have the means or experience to understand how quickly debt can pile up, are systematically targeted. Moreover, there are much wider ramifications for an economy based on debt, which should now be very apparent from the current credit crisis. Sure, there are those who use and abuse the system irresponsibly for personal gain, but by and large enticements to borrow rarely educate or advertise the potential downside or threats.
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