ST Alpha - "I should clarify, this is not specific to those who walk away from loans they have the ability to pay." (Reading a Post)

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In response to "No. I believe my life, my home, my money....I have a far bigger responsibility to my own economic situation" by Will Hunting

I should clarify, this is not specific to those who walk away from loans they have the ability to pay.

Posted by musubi Jun 23 '10, 15:33

But in general, you don't think lenders should shoulder a greater burden of responsibility in making sure that borrowers can afford what they are borrowing, or that what the collateral is actually commensurate with the loan they are issuing?

Responses:

I think lenders should make the wisest decisions for their interests. - Will Hunting Jun 23, 15:34 6
- Therein lies the rub. As the big guy who has little to lose (and can absorb many bad mortages) shouldn't the onus be there to do the rigth thing? - musubi Jun 23, 15:40 4
  - If it weren't for market regulations, they would operate the same as loan sharks for maximum shareholder revenue. -- nm - Beryllium Jun 23, 15:41 3
    - (And, frankly, this is exactly what they did, and exactly what caused the collapse) -- nm - Beryllium Jun 23, 15:43 2
      - Yup. And as corporations there's no "personal responsibilty" to scold them about. - musubi Jun 23, 15:44 1
        
        Well they should be going to jail but that isn't going to happen. Lie Steal Cheat and be rich with no risk of prison. -- nm - Redmond Jun 23, 15:54
- they don't really have a good track record for this. -- nm - Beryllium Jun 23, 15:37

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I should clarify, this is not specific to those who walk away from loans they have the ability to pay.

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