jprad is a libtard whiner with a victim's mentality... he even sees the deadbeat borrowers who greedily lived beyond their means as victims and has gone so far as to say they were entrapped: http://www.elitetrader.com/vb/showthread.php?s=&postid=2358657#post2358657 I personally wouldn't believe what he posted about living within his means and his mortage without proof.
debating this issue is pointless. The damage is done and now OBAMA is elected as ROBIN HOOD. The middle class is being destroyed and will bear the most of the worst, years to come. The rich will continue to get richer because they have "Cash" and are liquid. The "wana" be rich will find themselfs in Gov. housing provided by Obama and crew. 80% of American will be sitting around the "Stoop" discusing this same issue, years and years from now. This is all pointless until the Revolution comes, either Non-violent or violent. Tea parties are a start.
I have not seen anyone argue that they should have made the loan, but I could be missing something. They should not have, and they should be held accountable for having done so. They deserve, at the very least, to lose the principle of the investment. That does not change the matter of the lady taking out the loan also being accountable for her own actions as well. This is not a case of since one party is at fault then the other must not be. They both are.
many have, no one here with half a brain is holding the writer of the loan in any higher regard then we hold the lady who took the damn thing.
I think everyone agree's with that. But, what the lady did who took out the loan, and many others as well, was make themselves a party to their own small frauds as well each time they took out a mortgage and said they could pay something back that clearly they could not.
That said, you don't think that these lenders were preying on the marginally educated, because of no checks and balances? Look at the documentary House of Cards. Did any of those appear to have a post graduate degree? Okay, how a BA, or a BS? An Associates? It is no different than a man finding the dizziest blonde he can find, getting her full of drink and taking her home. She wakes up naked in somebody's bed and says, how did I get here?
I don't even care whos to blame anymore, I stopped thinking about that after like two pages into this thread. One thing is for sure though; without t666 calling people "assclowns" and "libturds" I might have been doing something productive cause the past 17 pages consisted of me sitting here laughing my ass off nonstop! aaaaaaha hahaha
There was a time in America when both borrower and lender would have faced punitive sanctions for mortgage fraud, especially if the loan had been sold on to Uncle Sam. People thought that it was wrong to lie on a loan application. It is no longer thought reprehensible and it is certainly not regarded as illegal; it is something that naughty boys and girls who wanna have fun would do and America must have its fun. There is even gathering momentum to ensure that credit troubles do not inconvenience the liars and cheats too much.
Oh please... even first graders know they shouldn't spend more money than they have. Most of these deadbeats knew exactly what they were doing... and if they were unsure they could have easily hired an attorney for $250. It's more a question of greed and (ir)responsibility.