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Wh else are we "bailing out" ?
joeaf1911a1
Member Posts: 2,962 ✭✭
I thought it was only for homeowners. Now I see blurbs for bailing out credit card debts, student loan debts, car payment debts and the likes.
Probably next will be swimming pool loan debts, boat loans and God only knows what else will be attached for the taxpayer to pay for these "unfortunate people" that went overboard on borrowing.
Probably next will be swimming pool loan debts, boat loans and God only knows what else will be attached for the taxpayer to pay for these "unfortunate people" that went overboard on borrowing.
Comments
They all want to dump their "C" (high risk) and "D" (garbage) rated paper to the government and keep the "A" and B" paper for themselves.
With the high standards of ethics that lenders maintain I am sure that thought never entered into anyone's mind [;)].
P.C. world of today it is something to leave to someone else.
Time was when paying a debt was a sacred obligation. However in this
P.C. world of today it is something to leave to someone else.
I can understand what you are saying Joe, to your generation there was no such thing as easy money, credit was something to be used with extreme caution and having to borrow money or taking out a loan for anything other than a house or perhaps a car was cause for alarm. There were no credit ratings back then because everyone knew who was trust worthy and who was a dead beat! Those days are finished [V].
Time was when paying a debt was a sacred obligation. However in this
P.C. world of today it is something to leave to someone else.
My Grandfather was a banker his entire life. His motto was, "The worst thing a banker can do to a person is to over-burden them with debt."
The banks' hold a responsibility in it too.
Ben