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01-13-2016, 01:42 PM
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#61
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 7,677
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 Quote:
Originally Posted by MichaelB
Honor in the banking system is as common as a maiden in a bordello.
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 and that the is the core of the problem. All our systems are based on that assumption that no longer works.
__________________
For the fun of it...Keith
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01-13-2016, 02:19 PM
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#62
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,374
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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.
Sent from my SAMSUNG-SGH-I777 using Early Retirement Forum mobile app
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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01-13-2016, 03:28 PM
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#63
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,895
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Quote:
Originally Posted by MichaelB
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.
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I fixed that for you.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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01-13-2016, 03:47 PM
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#64
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Recycles dryer sheets
Join Date: Dec 2013
Location: Manhattan Beach
Posts: 195
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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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01-13-2016, 08:18 PM
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#65
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Recycles dryer sheets
Join Date: Jul 2013
Location: Cocoa Beach
Posts: 414
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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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