Oh great our investors and speculators are now proven mental cases.

However, it does make sense why we are all monetary screwed beyond belief though !

Just a thought, The UK's 'care in the community' policy really does work.
Now these fruit cakes are running the show.

So......No surprise there then.

Just a scientific confirmation that many banker types are sociopaths or have psychopathic tendencies.

I thought as of recent that brain damage was a prerequisite of employment for bankers.

I am surprised to find out it is only a bonus for employers...and not a requirement.

I worked selling real estate for a number of years when my kids were little and I needed a bigger paycheck.

I worked with a number of lenders. Most of them were nice friendly people who were very good at getting people loans.

Perhaps it's just my perspective but they didn't appear brain damaged to me. They helped a lot of nice people purchase homes.

But, now it's popular to villainize people because of the sins of a few... So now bankers are now all brain damaged.

Originally posted by Wildbob77

Perhaps it's just my perspective but they didn't appear brain damaged to me. They helped a lot of nice people purchase homes.

How many of those people were approved for loans that even the bank knew they could not afford. Once the loan is approved, then that is when it becomes the banks fault when they should have denied the loan.

I used to be a loan officer, generating debt for folks, and I can attest that the underwriting dept was made up of near automatons who only looked at #s and had the emotional range of a Daisy air rifle!

In the "salad days" when money flowed like water, your debt/income wasn't a concern so much as your credit score and the amount of equity that you were borrowing against. One customer applied for a line of credit against her home, she was @ 73.2% D/I on an intrest only payment (!) but her credit score was 830 something and was given an instant approval. Which bothered me to know end, but I was getting paid well to be a good little $ selling Corporate Nazi monkey.

Fast foward a couple of years to whne the flow stopped, I had many customers with a D/I under 30%, credit rating 760+ and borrowing far less than 80% of the value and reasons were FOUND not to approve the loans. Typically the declination was based on a bobble in their deposit history where one month they put less $ into their accts!

Same underwriters, but they were "doing their jobs" like good like corporate Nazis. I guess as an employer that is what you want? I know that I couldn't do it any longer so I got out, I miss the money but I don't miss feeling like walking/talking/breathing slime.

Derek