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Old 11-15-2015, 02:06 PM   #21
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Well, some people are too big to jail, so ya gotta prosecute somebody.
I wonder who should do the jail time for giving loans to students persuing degrees in traditionally low paying fields?
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Old 11-15-2015, 02:26 PM   #22
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I wonder who should do the jail time for giving loans to students persuing degrees in traditionally low paying fields?
The students, obviously. You can't expect bankers and specialty finance people to be able to take time from their busy schedules to understand forward prospects for the economy and job markets. That sort of decision has to be left to persons with sufficient time available to do the necessary research work, such as high school seniors.

Really, people have to take some responsibility for their actions. It is hardly the banker's fault if someone takes advantage of their generosity. Loan officers have always relied on the kindness of strangers.
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Old 11-15-2015, 03:00 PM   #23
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Some of the marketing people at the colleges kids we know attended are nothing but grifters: Hey we'll give you a 50% scholarship so you can only be $100K in debt with a useless major instead of $200K, deal?
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Old 11-15-2015, 03:46 PM   #24
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...........
Really, people have to take some responsibility for their actions. It is hardly the banker's fault if someone takes advantage of their generosity. Loan officers have always relied on the kindness of strangers.
Back when banks kept their loans, as opposed to reselling them, I don't recall bankers being generous to strangers........ or anyone else.
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Old 11-15-2015, 05:28 PM   #25
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Back when banks kept their loans, as opposed to reselling them, I don't recall bankers being generous to strangers........ or anyone else.
My mother got a toaster for opening an account at the local bank. I think we needed one at the time.
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Old 11-15-2015, 06:11 PM   #26
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My mother got a toaster for opening an account at the local bank. I think we needed one at the time.
I got one too, but I'd bet the bank would not have loaned me more money than I could afford to repay.
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Old 11-15-2015, 06:44 PM   #27
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I got one too, but I'd bet the bank would not have loaned me more money than I could afford to repay.
My how times have changed.

When I went to the local bank in Ansonia, Connecticut in 1976 for a $50,000 mortgage loan (with 20% down, no less), the banker wanted to speak with my boss to make sure I was going to stay employed (haha).
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Old 11-15-2015, 07:29 PM   #28
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The students, obviously. You can't expect bankers and specialty finance people to be able to take time from their busy schedules to understand forward prospects for the economy and job markets. .
Makes sense. Students pay their student loans off. Home owners pay their mortgages off. CC holders pay their CC debt off. Car owners pay their car loans off. And druggies pay the juice to Big Louie for the hits they got on credit last week.

Makes perfect sense. I love consistency!
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Old 11-15-2015, 07:33 PM   #29
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My how times have changed.

When I went to the local bank in Ansonia, Connecticut in 1976 for a $50,000 mortgage loan (with 20% down, no less), the banker wanted to speak with my boss to make sure I was going to stay employed (haha).
And the sooner things get completely back to those old, conservative standards, the better I'll like it.

If our political leaders or social activists want folks who can't afford homes to have homes, instead of encouraging lenders to lower lending standards (via whatever actions), they should just give the folks the money up front and avoid being part of creating bad loans.
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Old 11-15-2015, 08:07 PM   #30
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I should have been alarmed after 2 of my tenants out of 6, gave me notice that they were buying a house, and NOBODY called me and asked if they paid their rent, how much, and if on time and if they were ever late. I questioned DW about it but never thought about future implications.
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Old 11-15-2015, 11:33 PM   #31
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Precisely. This stuff is important!
I agree wit yous.

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Old 11-15-2015, 11:36 PM   #32
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I should have been alarmed after 2 of my tenants out of 6, gave me notice that they were buying a house, and NOBODY called me and asked if they paid their rent, how much, and if on time and if they were ever late. I questioned DW about it but never thought about future implications.
Remind me not to be a landlord.

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Old 11-16-2015, 02:37 AM   #33
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The issue wasn't being a landlord. They were excellent tenants; only nobody checked with DW or I to verify their 5 year old record, albeit excellent ones. That lack of verification alarmed me, but not enough for me to sell all banking/financial stocks.

Landlording has been very good to me.
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Old 11-16-2015, 05:23 AM   #34
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The issue wasn't being a landlord. They were excellent tenants; only nobody checked with DW or I to verify their 5 year old record, albeit excellent ones. That lack of verification alarmed me, but not enough for me to sell all banking/financial stocks.

Landlording has been very good to me.

My last tenants rented for seven years and bought a home in the Villages. I did receive a form in the mail from their mortgage lender asking to verify the information the tenants gave them. That was a year and a half ago.


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