Quote:
Originally Posted by Emanon
Or at least do something to crack down on these predatory lenders.
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I take issue with the predatory lendor statement.
What made them predators as you call them? The fact that they would loan money to people who might have been considered lower income? I have heard time and time again people freaking out because they are two months behind on thier adjustable mortgage that has yet to adjust to the higher rate. When they are asked what the rate will be adjusted to the resoponse is, "I don't know." ARE YOU FREAKING KIDDING? They simply have no clue about finances. Blame that on public schools or whatever else you want but these "predators" had willing accomplices that are just ignorant and signed their name to the document.
The flip side of the coin is before the sub prime debacle, I heard news reports time and time again that so and so bank was racist because it did not make X% of loans to minoritys, women, or low income people. In Chicagoland these banks were being crucified as racist over the airwaves only two years ago.
Funny, I don't see these stories on the news anymore.