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Reply #194: I agree - I thik the banks need some blame, but basically, people didn't do their homework. [View All]

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Rabrrrrrr Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-28-09 10:05 AM
Response to Reply #185
194. I agree - I thik the banks need some blame, but basically, people didn't do their homework.
Anyone stupid enough to go into what is likely the largest purchase of their life, without having any knowledge about how mortgages work or any care for their own future, don't deserve a lot of "Oh, gee, you got duped, you poor, poor victim".

Nope - they brought it on themselves by refusing to educate themselves, by refusing to be temperate, and by refusing to take any kind of real look at their financial situation, as well as their own complicity in buying in lock, stock, and barrel with the consumerist American pathology of "Bigger bigger bigger!!!! Better better better!!!! Gotta do better than my friends!!!!!!!" leveraging themselves into bankruptcy to support a lifestyle that they can't fucking afford for the simple reason that they're afraid of looking "poor".

Well, now they look poor - and they look fucking stupid, too.

Banks should have done a better job and offered realistic mortgages; absolutely no doubt on that.

But unless those banks were holding guns to peoples' heads and making them sign on the dotted line, they're blame is reduced significantly.

And seriously - why would anyone trust a banker to know what the hell they're talking about? I've talked to so-called bankers when getting loans and doing financial transactions, and the ones I've come across are dumber than me, and they're supposedly "trained" by their banks to be able to do their jobs.

Well, they're not. And anyone who goes blindly into one of those meetings assuming that the banker is an expert and isn't just full of shit, is also a moron.
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