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People qualify for credit when times are good and they can afford to pay it back. Then something bad happens and they can't. Banks are usually in the business o
by hluska 5y ago
People qualify for credit when times are good and they can afford to pay it back. Then something bad happens and they can't. Banks are usually in the business of getting paid back. Often when they're not, it's because of a regulatory failure.
- squeaky-clean 5y agoBanks aren't in the business of getting paid back, they're in the business of getting paid back more than they gave you. The ideal customer are irresponsible enough to accumulate interest, but not so irresponsible that they completely default.
- rdtwo 5y agoBanks don’t hold the products they securitize. This isn’t the olden days most products at large banks get bundled and sold off
- hluska 5y agoSo regulatory failure?