Purchase home on loan from banks

bankers gave mortages to people that they knew couldn't pay. would you give a loan for a 500k house to your mexican grass cutter? you would if you get a 5% commission

It's the government's fault for making banks lend to niggers and white trash.

I still don't get how everyone involved with the idea of CDOs wasn't hanged.

actually, you are all idiots. the root problem is

FRACTIONAL RESERVE BANKING

why do we have it?

because (((BANKERS))) rule us.

YOU DON'T OWN YOUR MONEY IN THE BANK, YOU ARE LENDING IT.

Yes poor people are stupid and lazy but calling a loan to a poor person AAA is just as bad as not paying it as the loan taker. And almost no one was actually punished haha.

No Bernie, you can't have my lambo and thats final.

>Lend out money you never even had
>To people you knew wouldn't pay you back
>Seize real assets after they don't pay the money back that you never had in the first place + interest

are you genuinely retarded? bankers are criminals not because they foreclosed on people, but because they sold mortgage-backed securities and claimed they were triple A when they were actually garbage. it's the literal definition of lying

I didn't understand the movie: The thread

Pretty sure it wasn't the banks themselves that slapped AAA ratings on their bonds and everyone just took their word for it. Take your grievances to the rating agencies.

they were all in on the scam user

This is true, but this doesn't absolve the banks from giving out mortgages like hotcakes to the poorest motherfuckers in town. I wasn't old enough to buy a house then, but my father did, and he told me how you needed basically nothing to take out a mortgage before the crash (no proof of income or anything that could guarantee that you could pay off your mortgage), and after the crash hit you needed proof out the ass

Handing out mortgage loans like nothing wasn't the banks own initiative, it was a result of government pushing them through the Community Reinvestment Act so poor ass people could buy homes.

>live within my means
>drive a sub-$15k new car with long warranty
>own my modest home outright after 6 years saving every penny I could save to buy it in cash
>use credit cards for the 1.5% cash back and pay off in full each month
>see people all around me living far beyond their means
>literally no consequences

It's like I hate my life and acting rationally is actually the irrational thing to do

>so research and buy good rated product
>they lied about the description and deceived you in a very unusual and rare manner
>somehow your fault

Fucking idiot.

banks gave out loans to brown people who they know full well wouldnt be able to pay

>banks are rating agencies

Kill yourself

Cite sources that show loan defaults were entirely segmented into minority communities? I've never heard of that

All while causing the price of anything they give loans for to skyrocket because of all the fake money available.

Do you not understand how the circulation of money works? Fractional-reserve banking allows banks to invest your funds preventing your savings from being a GDP black hole. It's very functional.

Pro-tip: It's not good for the economy for money to sit and do nothing.

This is b8 but I’ll bite anyway. Look up “adjustable rate mortgage” I mean, you are right in the sense that the banks technically didn’t force people to take loans, but they did deliberately deceive people into thinking they could afford a home when they could not. The loans were often complicated and vague. People were confident that they could always refinance if they needed too, not considering that the property would lose value. Additionally, these sub-prime mortgages were bundled together into opaque and complex securities, which they paid rating agencies to artificially rate higher (fraud). Essentially the banks were at the center of the entire scam, intentionally selling mortgages to people who couldn’t afford them, putting the mortgages into securities which were made to look like good investments, then selling them to other banks and investors at a premium and charging fees. Then when the entire shitheap collapsed, they were given a do-over at the expense of the taxpayer. They got away with it, even though everyone knew what they did. They should have been made to kneel in front of the NYSE and been executed via firing squad.

At least 50% of the fault lies with the average middle class fucking brainlet who decided to take a mortgage with a rate they couldn't afford to pay for a house they didn't need.

Margin Call does a good job of explaining the hypocrisy of the average American pleb.

youtube.com/watch?v=2f2kGHcdJYU

If you watched the movie and still don't get it, stop browsing Veeky Forums and go back to watching media with simpler plots.
Dora the Explorer outta be up your alley.

So? That doesn't mean you have to take the fucking money retard. Maybe people should have a better idea of what they can actually afford before chowing down at the trough of cheap money like the pigs they are.

Predatory loans, ie money to people who could never pay it back which would have been fine but then investors bet that they would be paid back because according to the banks they were solid loans and when they stopped paying he investors money tanked

All of this has come about as a result of people's own stupidity.
People's lack of understanding of financial instruments and financial markets. The government aids Americans in being stupid by protecting consumers from "predators" essentially telling moron consumers "it's ok to be stupid, not understand anything and sign shit without reading we will protect u"

I have studies in fimance, real estate, real estate finance. And this is exactly what happened.
Alot of sheeple will still blame the banks, the government saying "oh they allowed ARM's, loose financing, muh they were selling the loans and wallstreet!"
But the bottom line is Americans are ignorant and impulsive shoppers and don't understand even how to read a basic Balance Sheet or Personal Financial Statement.
The businesses were simply doing what they were supposed to - maximize profits legally.
Idiots buy into this "muh the governments cheated us muh the banks robbed us" so obviously news reports and media will push this agenda.

Mark my words the second bubble is going to pop this time it will be with student loans. And if they opt to bailout Sally Mae I hope a plague of locuses infects their office till they crumble to the ground

Investors understand the risks not "well THEY Told me these were AAA investments," people should not be investing in shit they don't understand furthermore every market has risk - holding US dollar has risk. Investors should understand that investing has upside but also varying amounts of risk they shouldn't need a kike to tell them that.

It's the idea of "oh we need to protect the stupidity of Americans" that gets us all In trouble .

The only reason the government bailed out the financial institutions and banks was because it literally NEEDED to.
But even this bailout money is being paid by American and with interest.
So the whole thing was moron americans getting double fucked. Kek.
Not only is your money worth substantially less but now you your even more in debt and u got to pay us the interest for all this extra money fucking rekt kek.

How do I bet on the collapse of the student loan bubble?