Oh i didnt mean anything by that i just mean when you talk to Jaimie about it, its crazy. He was basically being told "you either loan this money out, or you will go out of business because SOMEONE will loan it out". He had no choice, you either made the loans or the FEDs cut you out of the "pool" of money and there goes your business. Lucky for him he has a lot more integrity than most people and got out when he could. But the Govt/Banks were basically strong arming people into lending to anyone with a pulse.Originally Posted by Total_Blender
I used to sell credit cards and toxic variable-rate loans for GE. People with 20k in credit card debt and they think the answer to their problems is another credit card...
http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.3068:Do you have a source for the 8 billion in bank paybacks being used to buy out mortgages? I'm not disputing it, I'd just like to read more about it before I comment on it.
I originally saw the story break on CNN and FOX about 2 months ago IIRC. My point is basically they get a FREE 5 BILLION and they IMMEDIATELY wanna blow it all on some other Government program.
Im not saying we shouldnt help people, but the notion that this "money we are going to make" getting applied to the national debt or anything like that is laughable.
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