Quote:
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...
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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?
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