Comments on: A Downward Spiral? No Help from Banks

By: Peace

Peace — Wed, 22 Jul 2009 16:58:31 +0000

I agree with admins point of view. Is nationalization of institutions like banks is one of the solutions ? In such a case government which is unbiased will have complete say on how the money should be distributed for the good of the society.

By: lyka

lyka — Thu, 16 Jul 2009 05:42:01 +0000

well i guess its the time not to deposit our money in the bank due to whats going on right now! (if this will happen for sure the banking industry will be down)

By: dparker

dparker — Wed, 15 Jul 2009 11:47:33 +0000

Private lenders will always try and gauge people.

By: savvyeyty

savvyeyty — Sun, 05 Jul 2009 16:35:00 +0000

Congress huh? How I wish some of them can be tried some time. It becomes their job now, blaming someone else for something just like that.

By: takatenamano

takatenamano — Thu, 25 Jun 2009 11:26:55 +0000

I think this is one flaw on the law. I think the government should at least pass a bill preventing this from happening. In the end the banks had all the money and lots of business are going down again.

By: admin

admin — Fri, 05 Jun 2009 22:52:54 +0000

No, it wasn’t just the banks. It’s funny because I have some of the old Fannie Mae newsletters that talk about how Congress was putting pressure on them to make loans easier to get for those less qualified individuals. It’s easy to be a Congressional Representative, you just blame everyone else when things go wrong. How could you be responsible, you only have 1 vote? Congress is already head hunting for a scape goat, they want to blame it on someone, thus the focus on Countrywide. It was a private company that basically found a way to fund individuals who Congress wanted to see getting money. Let’s face it, it was a really big party, now no one wants to pay the gigantic bill.

By: savvyeyty

savvyeyty — Fri, 05 Jun 2009 14:06:27 +0000

Great article. You we’re right about everything you said. Who do you think is to blame. Do you everything should be blamed on the bank?

By: Ricardo

Ricardo — Sun, 03 May 2009 13:29:21 +0000

I’ve heard that homeowners who get their financing from a mortgage broker as opposed to a bank may very well have to deal with a “one strike and you’re out” situation.

At least traditionally, some banks would try to work with you in tough times, although that too may be a thing of the past.

By: skatss

skatss — Fri, 01 May 2009 11:39:33 +0000

Good article, I agree with you. The banks received quite a bit of bailout money to help the common person but the banks won’t loan the money to us. What a joke. We have no money and ask them to do what the government wants them to do with it, like loan it to us, and then we’re refused because we don’t have money. I’d laugh if I wasn’t so astounded and saddened by it.