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Current Events & Hot Topics Current Events & Hot Topics

A tale of two financial collapses

Posted by on Dec. 26, 2013 at 8:42 PM
  • 118 Replies
4 moms liked this

Thoughts?

by on Dec. 26, 2013 at 8:42 PM
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Replies (1-10):
.Bubbles.
by Silver Member on Dec. 26, 2013 at 8:51 PM
3 moms liked this
I can't comment on the situation in Iceland since I know nothing about it. I will say that I think the US collapse was handled poorly. Bank executives should not have been handed bonuses for their failures.
turtle68
by Mahinaarangi on Dec. 26, 2013 at 8:56 PM
11 moms liked this

This is why democratic socialism works....the government is at the peoples bidding...not the other way around.

Cutenessmom
by Bronze Member on Dec. 26, 2013 at 9:06 PM

Yuppers if it was not so dam cold i move there in a heart beat!

tanyainmizzou
by on Dec. 26, 2013 at 9:07 PM
1 mom liked this
people should never have the government force their home loan to be forgiven.
muslimahpj
by Ruby Member on Dec. 26, 2013 at 9:10 PM

Why not?

Quoting tanyainmizzou: people should never have the government force their home loan to be forgiven.


tanyainmizzou
by on Dec. 26, 2013 at 9:14 PM
3 moms liked this
Quoting muslimahpj:

Why not?

Quoting tanyainmizzou: people should never have the government force their home loan to be forgiven.




Because people were not forced into loans. If there is fraud, that is different. But people buying more than they can afford is not the responsibility of the government to force forgiveness.
muslimahpj
by Ruby Member on Dec. 26, 2013 at 9:27 PM
1 mom liked this

Well, there were 200 criminal charges brought against the bank executives, so?

Quoting tanyainmizzou:
Quoting muslimahpj:

Why not?

Quoting tanyainmizzou: people should never have the government force their home loan to be forgiven.




Because people were not forced into loans. If there is fraud, that is different. But people buying more than they can afford is not the responsibility of the government to force forgiveness.


TCgirlatheart
by TC on Dec. 26, 2013 at 9:27 PM
1 mom liked this
Very interesting...
tanyainmizzou
by on Dec. 26, 2013 at 9:28 PM
Quoting muslimahpj:

Well, there were 200 criminal charges brought against the bank executives, so?

Quoting tanyainmizzou:
Quoting muslimahpj:

Why not?

Quoting tanyainmizzou: people should never have the government force their home loan to be forgiven.




Because people were not forced into loans. If there is fraud, that is different. But people buying more than they can afford is not the responsibility of the government to force forgiveness.



I said if there was fraud it was different.

Buying more than you can afford is not the responsibility of others.
CinnamonBunns84
by on Dec. 26, 2013 at 10:07 PM
Alot of homes were foreclosed illegeally.

Alot of homeowners werent advise to get lawyers and signed mortgage documents not knowing they were allowing their rates to balloon at any rate and at any cost

Most homeowners stopped paying mortgages because of the recession and layoffs.

Some homeowners committed suicide resulting in foreclosures.

Quoting tanyainmizzou:
Quoting muslimahpj:

Why not?

Quoting tanyainmizzou: people should never have the government force their home loan to be forgiven.







Because people were not forced into loans. If there is fraud, that is different. But people buying more than they can afford is not the responsibility of the government to force forgiveness.
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