'If you had a pulse, we gave you a loan'

Canuck_Buck · 03-23-2009, 05:06 PM

This investigation is the first of a three-part Dateline series, "Inside the Financial Fiasco." The next part, which will focus on America's debt epidemic, airs Friday, March 27 at 10 p.m. ET on NBC. Go to dateline.msnbc.com for more information.

http://www.msnbc.msn.com/id/29827248/

Looks interesting !

falcon · 03-23-2009, 05:49 PM

I watched that show: Everyone out there should watch this short series.

nodog · 03-24-2009, 03:55 AM

It's the key to a robust economy for some. How else can you sell something for much more than it's worth if you can't make it possible for people to get it. Add in the government bailing out the lenders who are being stuck now that people are so far in debt they will never in their life be out of it and walla a robust economy.

The next time you hear some decry welfare for the poor open your ears, this country has always had a welfare system and it has always been for the wealthy. Some will stand up and claim nothing of the sort, they sacrificed so much and now the government wants to take or steal it. Where did they get the money? If they themselves haven't been a recipient those that have benefited from the welfare system for the rich are supplying the cash. Ever here who pays the bulk of the tax's? Ya think the government isn't going to help them keep paying them? And where didthe rich and the governmentget the money? The consumer, you and me spending every penny just getting by.

And don't listen to the talk that a large group of people pay no tax. Unless they never buy a thing, they pay, at least 7% around here not to mention all the other tax' that must be paid for goods and services.

FDR got his new deal idea from Hoover. Hoover's new deal was welfare for the rich and squat for the poor. Ran'm out'a town when the veterans of this country set up a tent city in D.C. FDR hammered him with it. Neither was right but the product of a corupt free market.

salukipv1 · 03-24-2009, 02:31 PM

Everyone wants to blame someone, I saw that show and one on cnbc as well, basically the same show...

Personally I blame everyone. If you get a loan, you are obligated to understand the terms of the loan yourself, if you know you can't pay the loan back, who's at fault?

Banks/institutions shouldn't have been loaning to people without income verification, but they did to get a piece of the action.

People who didn't have homes prior to this, then got loans they couldn't afford and lost their homes are back where they started, so what's the change there?

Sure the country is feeling the affects of the collapse, I just don't understand where people are blaming everyone else and not themselves included.

I was suprised on the cnbc program stated 1/3 of people own their home outright, 1/3 have a mortgage, and a 1/3 rent... so essentially 2/3 of the country owns a home...and only 1/3 rent.