Occupy Wall Street campaigners buy-up debt to abolish it

reply to post by randomtangentsrme

I have stated the point that I do not like the idea of rewarding irresponsible people.
If you would like to debate the topic at hand in this thread, I am all for it.

Bankers used predatory marketing to con the public into accumulating debt, then conned governments into using public tax money for bank bailouts - thus milking the cow from both ends. A truly nifty trick and outright fraud by any standard. However, you seem to consider the perpetrators of this fraud to be "responsible" and the victims "irresponsible." Can you explain please?

reply to post by soficrow


I don't like the banks. I do not think the banks were acting responsibly.

In the instance of the housing crisis there are contracts involved. Which requires the consent of not just the bank but also the individual. In a voluntary contract how can only one party be irresponsible?

The banks were being irresponsible by giving people loans that people could not afford to pay back.
The people were being irresponsible by not reading their contracts, and/or not doing their own projections to realize they could not afford to pay off what they bought.

reply to post by randomtangentsrme

The banks were being irresponsible by giving people loans that people could not afford to pay back.

More than that - the banks engaged in predatory marketing.

The people were being irresponsible by not reading their contracts, and/or not doing their own projections to realize they could not afford to pay off what they bought.

The people were being lied to and tricked by trusted professionals.

This is awesome! ppl for da ppl

Originally posted by Bingzhu
This is awesome! ppl for da ppl

hugs


i agree


thank you

Is this a couple of one offs or is there momentem happening ? , lsol

reply to post by randomtangentsrme


Thanks for the welcome. First, my debt is not from overspending, but from needs beyond means. Its not easy to struggle. Many people label people like me "lazy", "dumb", or many more different labels that are just not the case. When a person stuggles they are not able to provide the basics to their family with that amount of money they make. Personally, the debt came from needing money from the significant raise in gas prices in CA and bills that are juggled in the air that have no choice but to be paid when there are no funds for them. We are over 800.00 in payday loan debt, it got this far after the 50.00 fees here and there that compound into needing more and more loans to just make it.

Originally posted by cornucopia


bail out the people, by the people.


that is so awesome!

No, it is not awesome - it is sick. People should just default, globally, and people everywhere should force their own governments to default.

Not tax, no debt slavery - global default.