How do you feel about Occupy Wall Street?

[^_^ 5,021]

It's all in the disclosures. It was one of the many pieces of paper you signed by didn't take the time to fully understand.

What are you talking about?

[웃 910]

[Mr. Big Dog 10,747]

I remember in 2003 when I bought my townhouse people (realtors, too) were telling me real estate "never goes down". I may have been younger and stupider back then but even then I knew that just didn't sound true. It was my responsibility to know that was bs, no one else is responsible for that.

I don't disagree with what you say. And yet, I disagree with the premise presented earlier by another poster that people took out loans knowing that they could never repay them. Should they have known? Yes. Did they? I doubt it.

[^_^ 5,021]

You seem to have a problem with the real world. Perhaps you can spend more time on Second Life, the rules are different there.

[I AM NOT THAT GUY 5,715]

What are you talking about?

You didn't sign any documents?

Edited October 13, 2011 by Crusty Old Perv

[^_^ 5,021]

I don't disagree with what you say. And yet, I disagree with the premise presented earlier by another poster that people took out loans knowing that they could never repay them. Should they have known? Yes. Did they? I doubt it.

I don't disagree with that.

Question - who is the responsible party for you not knowing something you should know?

[Usui Takumi 1,562]

A few conclusions:

The 1929 Bank crashes hammer everyone, but appeared to level the playing field somewhat regarding wealth.

2008

Bad decisions by the 99% cost them alot of wealth via their homes (where their wealth is)

Bad decisions by the 1% would have cost them alot via bank crashes and financial panic but they were given a second chance.

The bad decisions of the 99% cost them, no second chance.

The bad decisions of the 1% cost them some, but they were given a second chance.

[^_^ 5,021]

You didn't sign any any documents?

Whenever I get into these conversations with you I feel like I'm talking to SmarterChild from AOL.

[I AM NOT THAT GUY 5,715]

Whenever I get into these conversations with you I feel like I'm talking to SmarterChild from AOL.

Then just give me a plus one and move on.

[Kang 22]

How do I know rich was going for that effect? Oh, I don't know, lets say the last 4 years I have been on this forum and his posting history. You're right, it is impossible to know exactly his motives, but come on, after four years of posting this #######, it's pretty transparent (Four years I have been on here, I know he has been a member much longer).

I'm not saying this is all the fault of the banks, but to say they are exemplory models of business ethics is absurd. Predatory business practices aren't uncommon. People who sign a contract not knowing what they are signing is just plain ignorant. But the pure gluttony that seems to come from some banks is absurd. It started with Bank of America and their recent $5 per month fee to use an ATM and will only escalate. If they were required to keep 100% of deposits on hand, I would understand them charging fees, but they dont', they use yours and my money to invest and lend out, for their profit.

+1

Or plain lazy. I wonder how many credit card owners stride to understand APRs?

Maybe, the US should really do away with credit cards and go back to cash so people would learn how to handle their finances

Edited October 13, 2011 by Kang

[^_^ 5,021]

Or plain lazy. I wonder how many credit card owners stride to understand APRs?

Learning what words actually mean is hard work too. Some people are just lazy.

[one...two...tree 2,762]

I smell elitism here like stinky poo-fingers.

[The_Dude 1,142]

Did I say banks were exemplary models of anything?

As to that last line...of course they're for profit. They're bankers, not philanthropists.

Now where's that vitriol you were going to show me?

That is your default setting Lisa. Every word out of your mouth seems to be dripping with sarcasm or venom. You can tell yourself that you're not acerbic, keep lying to yourself all you want, I couldn't care less.

Edited October 13, 2011 by The_Dude

[Fandango 1,439]

I don't disagree with what you say. And yet, I disagree with the premise presented earlier by another poster that people took out loans knowing that they could never repay them. Should they have known? Yes. Did they? I doubt it.

I don't know if that was me or not, but there were many whom I personally saw taking out interest only loans for x years, speculating on the fact that prices would continue to rise, and they'd be out before the principal kicked in. These people knew full well that they couldn't afford that payment, but figured tp save that problem for another day, because they were becoming 'investors' (someone should have told them the buy LOW premise, but I digress)

I think it's also a ripple effect....your neighbor loses his home to short sale, then another, then another....and before you know it, you're grumbling about the price that you paid, even though terms haven't changed. But now the comps in your neighborhood are shagged, so on 'principle' you default on your mtg because you're not going to be the sucker who 'gets ripped off'.

And hen certain banks don't forgive the shortfall, some people are all 'no bigs' cos they just claim bankruptcy and walk away. Before long, the house is now a sh!thole, and worth even less than the shortsold ones, because in addition to walking away, either the HO is so pissed off, he destroys the interior out of spite....or the house is just so unloved that it starts having issues (eg roof), which not only stigmatizes the property as a complete and utter money pit, or it just causes the house to sit, because no one can get a mtg for an house with a bad roof, and damned if the bank wants to part with another penny....so a $250k house with minor storm damage from a storm is worth less an $50 because now it's got mold, wood rot, and major structural issues caused by water damage.

And then that affects the next house, and the next one, and the next one...

[Hilarious Clinton 452]

Unless those photos were shopped, there's no lying. Not saying all OWS peeps would stoop to that level though.

But that is a LOT of garbage, and I can't respect the opinion of a crowd who allows the defamation of our flag.

Then again, I don't have much respect for the 'come save me from my own shitty decisions' crowd. Perhaps if they occupied a place of employment, they could pill themselves out of their own mess. And yeah, I realize that's part of the problem, but IMO, then they need to lower their standards and do the hard freakin work.

http://toddkinsey.com/blog/2011/10/10/tea-party-vs-occupy-wall-street-in-pictures/