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What a surprise, Joe the Plummer is a fake!
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<blockquote data-quote="JustTired" data-source="post: 417076" data-attributes="member: 10234"><p>The "underlying root cause" is greed.</p><p> </p><p>Banks cannot exist unless they have the ability to loan money. They can make low risk loans by doing their homework and calculating ones ability to pay back that loan. But many have crossed the line and started making loans to those who's ability to pay back that loan is risky, at best. That's fine, as long as you are willing to accept the possible consequences. Making a small percentage of such loans can yield big results. But they can also be a liability.</p><p> </p><p>It's no different than going to Vegas. You can take 20% of your money and put it on black. If it comes up red, you still got 80% of your money to try something else. If you go in and slap down 100% of your money on black, you're either going to be "in the money" or broke. The big difference between you and the bank is that there most likely won't be a taxpayer "bail-out" for your imprudent behavior.</p></blockquote><p></p>
[QUOTE="JustTired, post: 417076, member: 10234"] The "underlying root cause" is greed. Banks cannot exist unless they have the ability to loan money. They can make low risk loans by doing their homework and calculating ones ability to pay back that loan. But many have crossed the line and started making loans to those who's ability to pay back that loan is risky, at best. That's fine, as long as you are willing to accept the possible consequences. Making a small percentage of such loans can yield big results. But they can also be a liability. It's no different than going to Vegas. You can take 20% of your money and put it on black. If it comes up red, you still got 80% of your money to try something else. If you go in and slap down 100% of your money on black, you're either going to be "in the money" or broke. The big difference between you and the bank is that there most likely won't be a taxpayer "bail-out" for your imprudent behavior. [/QUOTE]
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What a surprise, Joe the Plummer is a fake!
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