What is wrong with 'reverse' propaganda like this: "Whether banks compete or not, you LOSE"?I forget who put out the original and I really don't care. I was speaking to a friend yesterday and talking about banks and their overall desire to not have to 'lose' any money. fukkin wahh! Can anyone please tell me how banks have ever lost money, even after the 'collapse' of 2008? I... | |
Tea bags licking the nuts sack of banks? Your kidding right? Obama has given more money and support to Banksters than even Bush-the-bankster-puppet did.
Fight the NWO!
V
Banks do lose money on bad loans (the Government (only) buys the home loans for less than the value but covers the initial investment).
Banks lose money on investments in different markets.
Bankers that make bad business decisions need to be replaced (by the board members) All bad decisions show up in the MONTHLY accounting and the Quarterly AUDITS.
They SHOULD KNOW when they have problems long before a multi billion dollar business starts failing.
Consider HOW MANY bad decisions it would take for a multi billion dollar business to fail.
YEARS of bad decisions. They had time to save themselves.
All business that received Government money should have NEVER received a cent of Government taxpayer money.
They should have reinvested in themselves.
Yes they have to answer to their stockholders. The stockholders are partly responsible for allowing bad decisions to continue.
Any person made wealthy by investing in any business should reinvest in that business to stay in business
The people that receive PROFITS from banking were the one responsible for reinvesting.
I can tell your thinking is old school. When people paid OFF their mortgages.
Today's society is all about "the show".
People stretch to their limit to buy a home, they live in it maybe 5 years (I am a a former mortgage loan officer), take what LITTLE interest they gained, and then qualify for a more expensive home.
People used to take out a 30 year fixed loan for a home. They paid off their mortgage in 30 years or less if they made extra payment.
Today you buy your first home at about 25 years old and when your 65 yrs you STILL have a mortgage and it probably has 15 to 20 yrs left on it.
This is 40 years of mortgage payment with 15 to 20 yrs left to pay. #crazy#
When the term "starter home" was coined, I laughed. I figure that only the young could believe that debt was good. Reasonable priced homes are starter homes.
When did America teach the children that debt was good? It kind of slipped by us.
Debt USED to be for the big things in life.
Your Home should be your first large debt.
Your car should be your second debt.
Your credit should be used only in an emergency.
This is the way your Grandparents ran their finances. They had money left at the end of their lives.
Today we leave debt at the end of our lives.
What would you rather leave your family?
A home free and clear? Or one that has 15 yrs left on payments?
Credit card bills that are 50,000 or more?
What did your Grandparents leave?
Paid for homes.
Utility bills.
Life Insurance.
The scam America followed into debt was:
It is good to build your credit.
#yes it is IF you do it responsibly#.
The more credit you have the higher your credit score.
#not true# (It depends on WHAT you have credit with/in#
#
#Credit has categories to rate you in.# (All of it it depends on regular payments#
The only type of credit a person needs to build good credit is: On time
#Mortgage payments,#
#Auto loan payment.)
#2 long held credit cards with LOW balances)
If you can succeed in this of structure of credit you will have excellent if not perfect credit.
We all need to learn to live on this weeks pay. If we spend next months income this month we create a cycle that is hard to overcome.
Financially if we have an emergency or become unemployed we have hurt ourselves.
I'd be interested to know what you guys think of reverse mortgages that are backed by the FHA. Should banks be allowed to offer these?
