The reason this country is falling apart
#1
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The reason this country is falling apart
Originally Posted by NuncoStr8' timestamp='1322508529' post='21191354
[quote name='ChefJ' timestamp='1322410027' post='21188470']
...Decisions, decisions, decisions. You must be decisive from a young age to get ahead in life. If you purchase a house that YOU can't afford, don't blame it on the rich when you fail to pay your mortgage....Do your homework first.
...
...Decisions, decisions, decisions. You must be decisive from a young age to get ahead in life. If you purchase a house that YOU can't afford, don't blame it on the rich when you fail to pay your mortgage....Do your homework first.
...
Yes, people ought to know all the facts before signing anything. But the epidemic of unethical behavior in the financial industry over the last decade is not the fault of first-time home buyers. Wells Fargo funded as many loans as possible in a day and made every effort to bundle and sell those loans within 24 hours of closing. Ask yourself what kind of pressure their brokers were under to close, and why Wells Fargo was so frantic to divest themselves of the risk. And that's just one company.
I worked for Wells Fargo Home Loan at the beginning of the millenium, have several friends who have been mortgage brokers over 10 years, and a family friend has been an appraiser for over two decades. Feel free to hold your own opinions, but realize that I know what I am talking about and it isn't opinion. Look up Ameriquest Mortgage if you doubt me. I had friends there, friends who left Ameriquest in the early 2000's due to the dubious practices.
There is an ethical standard of behavior in the real estate and financial industries, and when people forget their ethics there is financial fallout. When an entire industry ignores ethics, we see widespread economic ruin.
Yes, people ought to know all the facts before signing anything
Personal responsibility.
it becomes more than a bit naive to think that modern foreclosures are the sole responsibility of the buyers.
You and I may never agree, I love personal choice and personal responsibility. Whereas you would prefer the govt. to walk you through life and make sure that the big bad banks and corporations don't take advantage of you.
[/quote]
You stated the difference in our outlooks well.
I listed facts. You can look them up. That's what I do. I don't know why you don't. If you looked up "Ameriquest Mortgage" you'd find that they were at the heart of the housing/lending/foreclosure crisis. You'd also find that they had been sanctioned multiple times for unethical practices.
You don't mention a single fact. I have the first-hand experience and facts, you have the uninformed opinion. Keep that in mind in your future replies.
I realize you think ethics and values are "old school" and have no place in the modern world. You are obviously not alone.
However, "ethics" are what separates us from beasts. Ethics in business also serve to prevent financial collapses that negatively affect an entire industry, not just the people who fall prey to unethical professionals. It is this realization that underpins the concept of ethics in business. "Business" does not mean "ethicless," it means behavior that results in benefits to both parties. When one party acts to derive the entire benefit, the impact is negative in a wider spread. Both parties need to benefit for any business to survive long-term. God help those who might suffer from your association.
Do you claim to believe in "personal responsibility"?
"Personal responsibility" includes how you treat other people. Taking advantage of people who do not have your level of understanding of highly specialized financial instruments does not serve the greater good. Knowledgeable and ethical businesspeople understand this and strive to educate their peers, but in the last decade those people have been shouted down by people like you who obviously think unethical behavior is entirely acceptable as long as it results in personal profits, the eventual fallout be damned.
You've not mentioned what gives you a unique insight into the conditions that resulted in the string of economic disasters that we've faced in the last decade from which you draw your opinions. You've not even acknowledged that the current situation is significantly less ideal than the economic environment ten years ago. But numerous financial professionals have repeatedly listed the string of events that triggered the fallout we face today. Is your head in the sand or do you still live in your parent's basement, protected from today's reality by the largess of others?
Take the time to look up the things I mentioned. We are talking economics, not politics. I grew up among die-hard Republicans that are appalled at the behavior of many people in the business world today and would never try to defend their behavior. People who built their business on handshakes and personal obligations to serve their customers. Because they see them as people. Contracts and licenses and regulations ensure that their industry was not viewed as predatory or unethical, serving to weed out those who would take advantage of their peers for personal profit.
You seem to be different.
#2
^ ^ ^ ^
Stilll arguing with ChefJ? Look, it's pretty simple,in ChefJ's world, the Chinese who made the toxic baby formula and sold it around the world aren't at fault. It's the dumbasses who bought the baby formula and fed them to their babies who are at fault. You know, they should've done their "researches." LMAO
Stilll arguing with ChefJ? Look, it's pretty simple,in ChefJ's world, the Chinese who made the toxic baby formula and sold it around the world aren't at fault. It's the dumbasses who bought the baby formula and fed them to their babies who are at fault. You know, they should've done their "researches." LMAO
#3
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#4
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It's not political, it's economic. And ChefJ isn't the only person who thinks it's not his problem because his life is OK. You cannot solve economic problems with political dogma, as much as some people think you can.
And political forums are inherently trainwrecks because the only people who frequent them are incapable of rational discourse outside party lines. Discussion without rational discourse is not discussion, it's trainwreck.
And political forums are inherently trainwrecks because the only people who frequent them are incapable of rational discourse outside party lines. Discussion without rational discourse is not discussion, it's trainwreck.
#5
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ib4l
#7
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Im a banana, Im a banana, Im a banana...LOOK AT ME MOVE!!
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#8
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It's not political, it's economic. And ChefJ isn't the only person who thinks it's not his problem because his life is OK. You cannot solve economic problems with political dogma, as much as some people think you can.
And political forums are inherently trainwrecks because the only people who frequent them are incapable of rational discourse outside party lines. Discussion without rational discourse is not discussion, it's trainwreck.
And political forums are inherently trainwrecks because the only people who frequent them are incapable of rational discourse outside party lines. Discussion without rational discourse is not discussion, it's trainwreck.
Why? Because sports car.
#10
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The reason this thread is falling apart....
go.....
go.....