firboy4

Banking Sector: Band-Aids Just Won't Do It

The way I see it is this: If I loan a lot of people money, and have to borrow money to loan it out, then I stand the chance of losing everything I have. And that's the choice I make. If they don't pay me back, then I'm out of business. And so people will have to get loans from someone else. Perhaps that next person will be more careful with loaning out money. In the meantime, I should be able to take strong measures to retrieve as much money as possible from those who defaulted on their loans. And if I tricked them into taking loans that they couldn't really afford, then we both lose, but ultimately it is up to everyone to know the details and risks of any contract they sign.

Now I still owe money to those to whom I borrowed money. And it's too bad for them too, since I can't pay them. So, they lose too, and perhaps they will make the next person who wants to use their money to make loans to others go through a much more stringent examination of how they plan to make loans.

So, those people who took out loans they couldn't afford, whether it be individuals or banks, and for those who loaned out money, whether it be the banks and the stockholders of the banks, or the government, it's just too bad for them. They should feel the pain of irresponsibility. And since the government is you and me, then we need to make our representatives know how we feel about this. I write mine a lot about many issues. I don't know if it does any good or not, but I try. My district just got through kicking out one of the bums 2 years ago. And we'll do it again if needed.