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Originally posted by apacheman
reply to post by OutKast Searcher
How about the personal responsibility of the bankers?
They deliberately obfuscated the language of the contracts, marketing them to folks who quite literally couldn't read them. By couldn't read them, I mean they were able to read the words but not understand the significance of them because they lacked the experience and culture necessary.
The banks deliberately took advantage of these people so as to be able to sell the same house more frequently, generate tax benenfits for themselves, and create enough confusion to be able to sell the same thing several times by calling it different things to different buyers. When the frauds were exposed, they blackmailed the Treasury into giving them yet more trillions. And in all this they didn't produce a single tangible thing.
Where the hell is their "personal responsibility"?
You defend soicopaths.
Originally posted by MegaMind
reply to post by OutKast Searcher
Yes home owners are partly responsible for this mess. But your unwillingness to admit the banks were greedy by KNOWINGLY handing out loans to people who couldn't afford them AND repackage them for sell as AAA proves only one thing ....
*SNIP*
edit on 14-7-2011 by MegaMind because: (no reason given)
The Banks scammed investors by selling them loans they knew to be bad but promised were good. The Banks had a long history of telling people who couldn't afford loans to take a hike. Why did they change that? So they could scam investors. Immoral and irresponsible.
Admit the Banks are also at fault or your just a shill for the banks. Which one do you work for? Or are you just trying to derail the thread? Are you a troll? ... I think so ...