Maxed Out on Showtime

[34f3f3f]

This was a brilliantly produced film, of terrifying revelations within the credit industry, and is now on Showtime. http://www.sho.com/site/schedules/product_page.do?seriesid=0&episodeid=132383

It does for the financial services industry what Al Gore did for Global Warming. Probably the most significant revelation in the film was a banking industry chief’s own admission that if you remove the ‘vulnerable’ from the credit equation, banks will cease to make profits. The merciless and systematic targeting of the poor, and less able is shocking. Interviews with a pawn broker reveal a fascinating insight into what are common perceptions as to who the bad guy really is.

Highly recommended for anyone who hasn’t seen it yet.

[evolusd]

I 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.

[evolusd]

I 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.

[evolusd]

I 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.

[evolusd]

I 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.

[evolusd]

I 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.

[ucodegen]

I 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.

[ucodegen]

I 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.

[ucodegen]

I 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.

[ucodegen]

I 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.

[ucodegen]

I 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.

[34f3f3f]

Oh 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.

[34f3f3f]

Oh 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.

[34f3f3f]

Oh 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.

[34f3f3f]

Oh 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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