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Topic:
Mortgage defaulters are to bank robbers as... [Locked] |
paulg_68  Posts: 2,469
Registered: 2009-7-27 18:45:54
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Date Posted:
1/1/00 12:00am
Subject:
Mortgage defaulters are to bank robbers as... |
drunk drivers are to murderers.
Neither the mortgage defaulters or the drunk drivers intended to cause harm, but someone else ended up paying the price for their stupidity anyways.
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eodoll Posts: 1,028
Registered: 2002-2-14 12:35:42
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Date Posted:
1/1/00 12:00am
Subject:
Mortgage defaulters are to bank robbers as... |
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Its different - a mortgage is a deal you make with a bank. You pay about 3x what you borrow for the rights to the house. You can walk away and they will get the house and every dollar youve paid thus far.
Seems like they always come out on top.
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Groucho48  Posts: 821
Registered: 2003-10-22 03:00:14
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Date Posted:
1/1/00 12:00am
Subject:
Mortgage defaulters are to bank robbers as... |
You forgot to add...
And bankers who made those stupid loans are the equivalent of the bartenders who serve a guy 25 drinks, then tell him to drive safe as he stumbles out the door.
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paulg_68 Posts: 2,469
Registered: 2009-7-27 18:45:54
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Date Posted:
1/1/00 12:00am
Subject:
Mortgage defaulters are to bank robbers as... |
eodoll posted:
Seems like they always come out on top.
You are clearly not up on current events.
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If you wish to make an apple pie from scratch...
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"Everyone has a chance to become rich." - Groucho48
"Most of the human wealth on earth exists between the ears of live human beings." - theredkay1
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eodoll Posts: 1,028
Registered: 2002-2-14 12:35:42
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Date Posted:
1/1/00 12:00am
Subject:
Mortgage defaulters are to bank robbers as... |
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They lost money because thy bundled the mortgages into package deals and didnt properly track the money.
If theyre smart, then they will come out on top.
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paulg_68 Posts: 2,469
Registered: 2009-7-27 18:45:54
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Date Posted:
1/1/00 12:00am
Subject:
Mortgage defaulters are to bank robbers as... |
For every bank that was selling those packaged mortgages there was another one buying.
Overall they got killed.
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If you wish to make an apple pie from scratch...
http://www.youtube.com/watch?v=zSgiXGELjbc
"Everyone has a chance to become rich." - Groucho48
"Most of the human wealth on earth exists between the ears of live human beings." - theredkay1 |
eodoll Posts: 1,028
Registered: 2002-2-14 12:35:42
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Date Posted:
1/1/00 12:00am
Subject:
Mortgage defaulters are to bank robbers as... |
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Some of the banks did and some didnt.
Bofa fared well.. Chase did okay too.
Some banks lost money though just like the people who took out mortgages did.. The difference being is one is a corporation that can absorb a loss and the other is an individual.
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paulg_68 Posts: 2,469
Registered: 2009-7-27 18:45:54
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Date Posted:
1/1/00 12:00am
Subject:
Mortgage defaulters are to bank robbers as... |
Overall the banks got killed. Not every bank, but overall.
Walk me through your thinking on how corporations can absorb losses but individuals can't. If a corporation loses $100 million dollars and they only had $80 million to start with, how can they absorb that? I'm not sure how that's different than when an individual loses $100 thousand and only had $80 thousand to start with.
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If you wish to make an apple pie from scratch...
http://www.youtube.com/watch?v=zSgiXGELjbc
"Everyone has a chance to become rich." - Groucho48
"Most of the human wealth on earth exists between the ears of live human beings." - theredkay1 |
eodoll Posts: 1,028
Registered: 2002-2-14 12:35:42
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Date Posted:
1/1/00 12:00am
Subject:
Mortgage defaulters are to bank robbers as... |
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Its easier to go bankrupt or to reorg when youre a corporation. But who cares anyway, what does that have to do with your original post?
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IMHO Title: Official Outpost Greeter
Posts: 2,287
Registered: 2001-11-1 03:55:02
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Date Posted:
1/1/00 12:00am
Subject:
Mortgage defaulters are to bank robbers as... |
paulg_68 posted:
Mortgage defaulters are to bank robbers as drunk drivers are to murderers.
In Denver, CO the Bar that severed the drunk too much to drink can be sued and arrested if said drunk gets in a wreck.
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