4 ms·

So? Loans carry an inherent risk with them. Banks and other institutions chose to take that risk and sometimes it doesn't pay out. Why should we protect private

by lagadu 11y ago

So? Loans carry an inherent risk with them. Banks and other institutions chose to take that risk and sometimes it doesn't pay out. Why should we protect private institutions from a risk they voluntarily assumed? Banking is not risk free, nor should it be.

JustSomeNobody 11y ago
So? Taking out a loan has an inherent risk associated with it that you may not be able to pay it back. How do we protect institutions who desire to loan money from losing it when they loanee can't pay back their debts? Borrowing isn't risk free. Nor should it be. Both sides have a responsibility in this. Actions have consequences.
- leereeves 11y ago
  The banks and the politicians on both sides have a responsibility. The ordinary young Greeks who will be forced to pay back the debt don't.
  - zo1 11y ago
    You can't have your cake and eat it to. For the 20% (guess) of "young Greeks" that are getting the raw end of a stick because they didn't vote for the government/disagree with the borrowing, there are probably > 20% of Greeks that did vote for the government, and/or did agree with the unsustainable borrowing. Or are we going to single out individuals that are responsible and saddle them with billions of debt? The alternative in this scenario to democratically-shared blame is ludicrous. Blame/consequences can't just magically disappear at this point. Look, don't get me wrong, I'm all for politicians being accountable for their actions. As a freedom minded (Libertarian/Anarcho-capitalist), I think a simple act/rule such as that would put us straight down a path to true freedom from government. But this crisis/situation is not one of those times where I'd advocate such a course.
    - leereeves 11y ago
      This came to light six years ago, and barring default or forgiveness, isn't going away soon. Young people who never voted for or against anyone responsible for the debt will suffer for it. People who haven't even been born yet might end up repaying the debt. "Democratically-shared blame" is the ludicrous option.
      - JustSomeNobody 11y ago
        But that's how voting works. People vote for who they want to represent them. Yes, there are going to be parts of the population too young to have a voice. But later, they will and there'll be a whole new population too you to have a vote. You can't change that. The important part is this; if you live in a country where you're allowed to vote for your representation, you are part of the government and share in it's successes and it's failures.
  - JustSomeNobody 11y ago
    That's why voting for the best candidate is so important. Your decisions today will affect your grandchildren. So, make very wise decisions.
- tosseraccount 11y ago
  Socially liberal young Greeks are the main supporters of Syriza. [ source : http://www.bbc.com/news/world-europe-18056677 http://www.bbc.com/news/world-europe-18056677 ]
- unprepare 11y ago
  >How do we protect institutions who desire to loan money from losing it when they loanee can't pay back their debts? Why would we protect institutions from the effects of the free market? Why suddenly when it's a bank in trouble, does free market ideology not provide the solution? >Both sides have a responsibility in this I dont see both sides making efforts to work this out at all. I see greece in headlines owing money; i dont see headlines about DB being forced to agree to forgive interest on loans, cut employee salaries/bonuses, or take any kind of belt-tightening measures. Where exactly do you see both sides taking responsibility?
- lagadu 11y ago
  Except we only see one side being forced to make sacrifices, not both.

by lagadu 11y ago

JustSomeNobody 11y ago

So? Taking out a loan has an inherent risk associated with it that you may not be able to pay it back. How do we protect institutions who desire to loan money from losing it when they loanee can't pay back their debts? Borrowing isn't risk free. Nor should it be. Both sides have a responsibility in this. Actions have consequences.

leereeves 11y ago
The banks and the politicians on both sides have a responsibility. The ordinary young Greeks who will be forced to pay back the debt don't.
- zo1 11y ago
  You can't have your cake and eat it to. For the 20% (guess) of "young Greeks" that are getting the raw end of a stick because they didn't vote for the government/disagree with the borrowing, there are probably > 20% of Greeks that did vote for the government, and/or did agree with the unsustainable borrowing. Or are we going to single out individuals that are responsible and saddle them with billions of debt? The alternative in this scenario to democratically-shared blame is ludicrous. Blame/consequences can't just magically disappear at this point. Look, don't get me wrong, I'm all for politicians being accountable for their actions. As a freedom minded (Libertarian/Anarcho-capitalist), I think a simple act/rule such as that would put us straight down a path to true freedom from government. But this crisis/situation is not one of those times where I'd advocate such a course.
  - leereeves 11y ago
    This came to light six years ago, and barring default or forgiveness, isn't going away soon. Young people who never voted for or against anyone responsible for the debt will suffer for it. People who haven't even been born yet might end up repaying the debt. "Democratically-shared blame" is the ludicrous option.
    - JustSomeNobody 11y ago
      But that's how voting works. People vote for who they want to represent them. Yes, there are going to be parts of the population too young to have a voice. But later, they will and there'll be a whole new population too you to have a vote. You can't change that. The important part is this; if you live in a country where you're allowed to vote for your representation, you are part of the government and share in it's successes and it's failures.
- JustSomeNobody 11y ago
  That's why voting for the best candidate is so important. Your decisions today will affect your grandchildren. So, make very wise decisions.
tosseraccount 11y ago
Socially liberal young Greeks are the main supporters of Syriza. [ source : http://www.bbc.com/news/world-europe-18056677 http://www.bbc.com/news/world-europe-18056677 ]
unprepare 11y ago
>How do we protect institutions who desire to loan money from losing it when they loanee can't pay back their debts? Why would we protect institutions from the effects of the free market? Why suddenly when it's a bank in trouble, does free market ideology not provide the solution? >Both sides have a responsibility in this I dont see both sides making efforts to work this out at all. I see greece in headlines owing money; i dont see headlines about DB being forced to agree to forgive interest on loans, cut employee salaries/bonuses, or take any kind of belt-tightening measures. Where exactly do you see both sides taking responsibility?
lagadu 11y ago
Except we only see one side being forced to make sacrifices, not both.