We are considering inflation. Then add on risk adjustment, and we can see it for the corporate charity it is. If it was a good investment, then we wouldn’t have been forced to make it. Yes there was enough private capital to cover these loans.
Them being “forced” to take loans is irrelevant because they’re the ones buying policy, not us. One interest rate for them, another higher interest rate for them to charge you.
Banks in 2008: “Hey customers, be ready for some real shit with the housing market - we can’t help you guys out.”
Also banks in 2008: “hi government, can we pls have all the money so we don’t pay for our fuckups?”
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So the banks paid it back by charging you more fees, and less interest on your savings
We are considering inflation. Then add on risk adjustment, and we can see it for the corporate charity it is. If it was a good investment, then we wouldn’t have been forced to make it. Yes there was enough private capital to cover these loans.
Them being “forced” to take loans is irrelevant because they’re the ones buying policy, not us. One interest rate for them, another higher interest rate for them to charge you.
We are being robbed blind.
Are we just going to ignore all the jobs that were lost when the economy crashed? Not just in the U.S. either.
All because there was an inordinate amount of really bad housing loans that banks KNEW were bad, and just continued to give the loans out.
If you’d like to learn more about this, Inside Job is a great documentary about this.
Here is an alternative Piped link(s): https://piped.video/tJQTzuv6SS4?si=40gbjJcaf8GNcvRV
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I’m open-source, check me out at GitHub.
Why are you introducing facts into a conversation?