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Old 01-13-2016, 02:42 PM   #61
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Quote:
Originally Posted by MichaelB View Post
Honor in the banking system is as common as a maiden in a bordello.
and that the is the core of the problem. All our systems are based on that assumption that no longer works.
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Old 01-13-2016, 03:19 PM   #62
Give me a museum and I'll fill it. (Picasso)
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If lenders were required to keep 25% skin in the game the problem would go away. In the current situation they just collect their commission and run.

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Old 01-13-2016, 04:28 PM   #63
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Originally Posted by MichaelB View Post
Honor in the banking system is as common as a virgin in a bordello. Skin in the game did, and would again, make a big positive difference. The same applies to universities and student loans.
I fixed that for you.
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Old 01-13-2016, 04:47 PM   #64
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+1 on the excellence of the movie. I liked it more than the book (unusual for me). The Aha moment for us was when DD came home saying she really wanted to see it, in part to collect extra credit for AP Econ, but also in major part b/c she couldn't really believe what her teacher was saying was in fact really going on back then ... her comment was that she didn't remember 08-09 being a big deal for our family (it wasn't), but it was a useful eye-opener IMO.

Hopefully the lesson sticks!
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Old 01-13-2016, 09:18 PM   #65
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"Skin in the game did, and would again, make a big positive difference."
Wouldn't this be great if it was just actually applied to everything?
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