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Being able to trade with no experience and oversight is one of those things that seems like it should be illegal. I can't think of any way you can go so far in
by metrokoi 6y ago
Being able to trade with no experience and oversight is one of those things that seems like it should be illegal. I can't think of any way you can go so far in debt more quickly. Even if I tried to buy a bunch of cars or houses I can't afford I would just get rejected.
- MattGaiser 6y ago> Even if I tried to buy a bunch of cars or houses I can't afford I would just get rejected. Try one of the auto houses or any of the sketchy mortgage brokers. They will lend to you.
- nnoitra 6y agoAnd when he doesn't pay back?
- MattGaiser 6y agoThey charge such absurd interest that it doesn't matter as they can just repo it.
- metrokoi 6y agoThat would likely take much longer to default on a loan or loans and owe 700k worth in deficiency than it took this unfortunate kid to lose the same amount even if you were trying, and arguably much harder to find those sketchy mortgage brokers and auto houses than downloading an app and making a few bad trades. A loan on a car or house isn't the same as owing 700k to Robinhood, there's nothing to repossess.
- nnoitra 6y agoHow on earth wasn't he rejected going -700K?