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The lenders are not idiots. I'm very sure they either are signed by their families or they have other ways of enforcing collection.
by Flammy 10y ago
The lenders are not idiots. I'm very sure they either are signed by their families or they have other ways of enforcing collection.
- xyzzy4 10y agoA lot of lenders are idiots. My evidence is the 2008 subprime lending crisis.
- titomc 10y ago2008 subprime lending crisis happened only in America. Lets think outside of America for this one. Lenders outside America are not idiots. Most of them lend on a solid collateral and someone from the family will have to have co-sign the loan, especially if its a huge sum.
- GFK_of_xmaspast 10y agoYou mean the ones who made the bad loans and immediately turned around and sold them to be somebody else's problem?