“I dunno, I think this whole thing can be summed up as ‘lending money to deadbeats is bad business, no matter how much interest you are charging them’.”
If only your quoted statement were true, we wouldn’t be in this mess. The fact is that the teaser rates were very low, so in reality this whole thing can be summed up as ‘lending money to deadbeats is bad business, no matter how low the initial teaser interest rate.’
