and a bank who agrees to give this buyer a loan knowing they can’t afford it? They have both made bad financial decisions yet the government only bails out the bank, not the buyer. Why?
Nov
20
What’s the difference between a home buyer making a bad financial decision by agreeing to take out a bad loan?
7
comments
Because Banks own the State, they are the ruling class, face it.Its the dictatorship of Bourgeoisie.
There is none but in the end it is all the buyers fault because no one put a gun to their head over it.
I give up. Why?
Well, the situation is a lot more complicated than this.
But anyway, really, stock holders of the beleaguered firms are NOT receiving a bail out…these firms are getting more like less than a penny on the dollar for their equity.
And, having the financial markets collapse would be devastating for all of us, including, Joe Average.
i guess it is like when a judge wrongfully convicts you and throw you in jail and when you finally get released you can not sue the Judge because they are immune from lawsuits~!
happened to me~!
or when Veterans Hospital operates on you even though the operation was rescheduled because i had the flue and they were not supposed to operate until i got over it, but they did anyways and i almost died~!
but you can not sue Veterans Hospital, they are immune from lawsuits~!!
some organizations are not held accountable for their wrongful decisions, they say it is because it would slow down the process~!!!
The banks are in fact going to attempt to bail out the buyers as well. it is called “The hope For Homeowners” bill the president already signed. (Yes, our good president,)
This will help all homeowners who bought their home 2-3 years back to refinance their home at the lower current value through FHA and the difference between the amount due and the current value will be forgiven and wiped out. The only problem is, their lender does not have to participate, however if they don’t, help the homeowner, they will not get any of the government bail out money.
Thank you Mr. President!
Big difference. If a home owner does it, he’s stuck with it. If a bank or loan institution does it, they can bundle the bad loan with good and sell it to another bank etc. They can sell this crap as many times as they want but eventually, some where along the line you hear “duh”, and the pyramid collapses. Too bad homeowners don’t have global impact like the thieves in banks.