New Arizona SB1070 Law

[Arct1k]

Actually shares are considered equity vs debt - My point being without banks you have very limited debt or equity markets... and you don't get your car or your house...

Everyone likes to yell at the banks but at the end of the day a human being signed the mortgage papers and bought the house... People should just take personal responsibility for their actions...

Its that definition that caused the melt down... Lending to people who decided they wouldn't pay back what they owed...

The issue in Europe are not caused by the banks it is causes by goverments (much like the US) who have spent much more than they have gathered...

Same old story...

[pinkpanda3310]

Originally Posted by Arct1k

Actually shares are considered equity vs debt - My point being without banks you have very limited debt or equity markets... and you don't get your car or your house...

Everyone likes to yell at the banks but at the end of the day a human being signed the mortgage papers and bought the house... People should just take personal responsibility for their actions...

Its that definition that caused the melt down... Lending to people who decided they wouldn't pay back what they owed...

The issue in Europe are not caused by the banks it is causes by goverments (much like the US) who have spent much more than they have gathered...

Same old story...

I interpret that as - We should have a world bank for the gov't's and everthing will be OK.

Or would that be iresponsible lending?

[Arct1k]

I think lending to a government at the moment is almost the definition of irresponsible lending...

Want to know something funny - The Federal Reserve demands that the Banks hold excess cash in T-Bills which they consider to be "liquid assets".

So your savings are supporting the us government debt... Much less than the Chinese though :)

[PBO]

Originally Posted by Arct1k

Everyone likes to yell at the banks but at the end of the day a human being signed the mortgage papers and bought the house... People should just take personal responsibility for their actions...

With respect, that's the type of defense every drug dealer in the world would like to use..."your honour, I was just satisfying market demand, if the market was demanding it, I wouldn't supply it"

There are morals & ethics required for business & banking is no exception. Lending practices that allow, encourage or result in financial hardship for individuals are morally & ethically corupt

The sub prime debarcle was evidence that bankers can be pigs in swill...this was a f**ck up of monumental proportions, now the world gets to tidy up the greedy bankers mess