Originally posted by stevegmu
Originally posted by northof8
reply to post by spinkyboo
This is America. Most of these people that are in sad shape have no one to blame but themselves. ...
I am supposed to feel sorry for these people? I don't and I never will.
Hear, hear! I'm so sick of this lack of personal responsibility, and deadbeats trying to find ways to beat the system, while costing other people money. These people should never have taken out mortgages on homes they couldn't afford, and should be renters.
Ah, isn't it interesting that these two posters expects the little guy to follow the rules and letter of the law, but they think big corporations should not have to follow the same law?
It's a little hard for me to get riled up over a bunch of thieves getting things stolen from them. As for the "it costs us money" B.S., when have banks EVER made things cheaper?
You see, banks aren't satisfied with a "good enough" profit. They aren't satisfied with a "great" profit. They wouldn't be satisfied with an "outstanding profit".
Before you cry too hard for the banks, everyone remember the following:
THE BANKS KNEW THAT THEY WERE LOANING MONEY TO PEOPLE THAT PROBABLY WOULDN'T BE ABLE TO REPAY IT. How did they get bit? Why those same banks thought that the market would continue to increase, and they would be able to foreclose on a house that had a 25%, 50%, or more, greater value than it had when they loaned the money. They didn't see the housing bubble getting ready to burst. THEY GOT BIT BY THEIR OWN GREED. And you expect us to be angry at the homeowner?
Are any of you old enough to remember when ATMs were introduced, and people wouldn't use them? I remember. Guess what the banks said? "Oh, if you use these, it will allow us to lower costs by having less tellers!" ATMs are everywhere now. Are your banking costs any lower?
Here's another little scam that banks have going. When it receives several items that will remove money from your account (checks, electronic checks, atm withdrawals, check-card withdrawals, etc.), they take the BIGGEST amount first. Do you know why? Because if you overdraw your account, they get to hit you with MULTIPLE overdraft charges, whereas if they took the biggest item out last, you would only get hit with one.
One more scam banks are doing now. Let's say you roll up to an ATM, and Get $100 out. The problem begins when you have, let's say, $90 in that account. They will go ahead and give you the $100 (in effect, LOANING YOU $10.) Then, they get to charge an overdraft fee of $35. That's 350%. Mafia loan sharks don't even charge that much interest!
And you expect us to be sorry for the banks?
I got an idea! How about, instead of being pissed off at a person who just wanted to own a home (after all, didn't the banks scream that it was the best way to invest money back in the 1990s?), how about you get pissed off at the GREED shown by the people who own/run the banks? How about you get pissed off at the banks for being so damn greedy, that they loaned money they KNEW people wouldn't be able to pay back, with the thought that they could foreclose later, and still make big bucks? How about you get angry at the banks for inventing derivatives, which, when they crash, will make the dollar less valuable than a roll of toilet paper? There is a reason Andrew Jackson wanted to kill the bankers back in the early 1800s you know.
Further proof of the insatiable greed on the marketplace? Microsoft, in the mid-to-late 90s was expanding their profit at 1,000% per year. The major stockholders were STILL screaming that it wasn't enough. (Yes, I realize Microsoft isn't a bank, but the example still stands.)
The banks are failing. They are failing because of their own greed. I, for one, think it is hilarious. I believe that fairly soon (within 1-2 years), heads will begin to roll. And I do NOT mean that figuratively.
Oh, and BTW, it is ESTABLISHED LAW that the "mortgage company" or the "bank" HAS to produce the note. Otherwise, there is no way to know that they actually own the debt!
Would you pay any Tom, Dick, or Harry that called up and claimed you owed them money, simply on their word that they now own some debt or other that was yours? The derivative market is so messed up, sometimes the banks THEMSELVES don't even know who owns what.
And you two expect people to pay just on a bank's say-so? If that's your attitude, what are your addresses? I'd like to send you a bill saying you owe me some money, and if you don't pay, I'm going to attach a lien to your house. After all, you won't be asking me to produce the original note, right?
[edit on 24-2-2009 by sir_chancealot]
