- Goose
- Cogito ergo sum
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Re: No Credit History? No Problem.
You think 2008 only had consequences for the bad actors?
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
- tennyson
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Re: No Credit History? No Problem.
Goose wrote:
You think 2008 only had consequences for the bad actors?
Exactly. The 2008 type collapse had an effect on everyone and not just here but worldwide and many are still hurting. That is exactly why regulations are important.
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
- TheLagerLad
- Exchange Beer Snob
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- From: Bucks County, PA
- Registered: 1/29/2015
- Posts: 2,055
Re: No Credit History? No Problem.
You think 2008 only had consequences for the bad actors?
Of course not.
Maybe we're misunderstanding each other.
You said earlier that borrowers would have no protections in the next four years.
I asked what protections should the government offer them?
Again, I made it clear that I expect their to be strong regulatory oversight of banks/lenders.
But what responsibility does the government have to "protect" borrowers?
I think you're going to see a lot of different United States of America over the next three, four, or eight years. - President Donald J. Trump
- flowergirl
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Re: No Credit History? No Problem.
One aspect of Dodd-Frank is to prevent banks/lenders from giving loans to borrowers who will not be able to pay the monthly payments. If it fails lenders like Countrywide will return with a vengeance. Some R's cannot wait for Trump to take office so they can dismantle Dodd-Frank.
- TheLagerLad
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- From: Bucks County, PA
- Registered: 1/29/2015
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Re: No Credit History? No Problem.
One aspect of Dodd-Frank is to prevent banks/lenders from giving loans to borrowers who will not be able to pay the monthly payments. If it fails lenders like Countrywide will return with a vengeance. Some R's cannot wait for Trump to take office so they can dismantle Dodd-Frank.
It's nuts that we would have to pass a law to tell banks not to give loans to people who can't pay them back. Seems like that would be Rule #1 of running a bank.
I think you're going to see a lot of different United States of America over the next three, four, or eight years. - President Donald J. Trump
- Goose
- Cogito ergo sum
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- Registered: 1/29/2015
- Posts: 13,427
Re: No Credit History? No Problem.
One aspect of Dodd-Frank is to prevent banks/lenders from giving loans to borrowers who will not be able to pay the monthly payments. If it fails lenders like Countrywide will return with a vengeance. Some R's cannot wait for Trump to take office so they can dismantle Dodd-Frank.
It's nuts that we would have to pass a law to tell banks not to give loans to people who can't pay them back. Seems like that would be Rule #1 of running a bank.
Well, when you can bundle the loan with others and then sell them to the next schmuck, you don't worry so much about those pesky details
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
- tennyson
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- Registered: 2/06/2015
- Posts: 6,654
Re: No Credit History? No Problem.
One aspect of Dodd-Frank is to prevent banks/lenders from giving loans to borrowers who will not be able to pay the monthly payments. If it fails lenders like Countrywide will return with a vengeance. Some R's cannot wait for Trump to take office so they can dismantle Dodd-Frank.
It's nuts that we would have to pass a law to tell banks not to give loans to people who can't pay them back. Seems like that would be Rule #1 of running a bank.
Greed TRUMPS all !
Banks used to be conservative venues. Not so much anymore (but the regs helps reel some of the practices in).
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"