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I stated a simple and correct fact. In order for bad loans to exist there must be two parties involved: Irresponsible creditors and irresponsible (or stupid) bo

by nuguy 8y ago

I stated a simple and correct fact. In order for bad loans to exist there must be two parties involved: Irresponsible creditors and irresponsible (or stupid) borrowers. This is assuming that the terms of the loans are known by everyone. People lied to get loans but the banks, as many have pointed out, knew exactly who they were loaning to. And the borrowers knew very well that they couldn’t afford these loans. The only way they might not have is if they were not very smart. I am completely surprised at how divisive this one simple fact has been. It is literally impossible to refute this. And your comment on how society would be super fragile if I were right — it is.

matwood 8y ago
> The only way they might not have is if they were not very smart. There is another option. They may have been very smart and operating in the environment they saw around them. This is basically what the big flippers were doing. It's a dangerous game though because when the music stops you do not want to be the one without a chair.