Quote Originally Posted by redGT
Not in the least bit surprised. Where I used to work my managers would habitually lie on the credit apps they sent to the banks. And when I say lie I'm talking 25k a year pay increases over what they had actually put on the credit ap they submitted to me. And then I would have to go back and write a new ap to make it reflect what the aps they submitted to the banks said. Part of why I quit that place.
She told me they had one applicant, an employee in a hair salon get approved for a $600,000 home loan.. she wouldn't do it, got written up and the loan got approved anyway. Now you know someone working in a hair salon in the mall isn't making close to enough to make the payments on that mortgage but of course the banks didn't care.

I'll get flamed for this but this is why I don't know if I 100% stand behind capitalism any more, at least not in the way it is now. Capitalism with good regulation seems to be best but I'm sure a lot of people would disagree.