Welcome to the wonderful world known as the financial sector. I see you're a bit of a newbie here, but don't worry, I'll explain the US economy to you in two sentences:
- Rich guy gets richer - Average Joe and poor Bob get screwed over
Look at the subprime mortgage crisis for a good example
[quote=r3loaded] - Rich guy gets richer - Average Joe and poor Bob get screwed over
Look at the subprime mortgage crisis for a good example [/quote]
I see that you are a bit of a cynic, but don't worry, I'll get you up to speed. - The rich guy keeps doing what he did to get rich. It usually continues to payoff. - The poor guy keeps doing what he did to get poor. But he likes to spend as if he is rich and ends up in a world of hurt and teaches his children to do the same. - When the government starts to accuse private lenders of discrimination and urges them to lend to people who have not previously met criteria, you end up with a mortgage crisis.
I grew up in government housing. My mother, however, refused welfare and food stamps, and taught her boys to be responsible. We continue to do what our mother taught us to do. That makes us evil, apparently.
I have pitty on those who are loosing their homes right now. It sucks. But I blame the people who educated them. It reminds me of http://en.wikipedia.org/wiki/The_Moth_(Lost) Luckily I DIDN'T grow up with someone telling me that society was against me, I would never get ahead, and that it was okay to take something you hadn't earned. I would have been another statistic.
[quote=r3loaded] - Rich guy gets richer - Average Joe and poor Bob get screwed over
Look at the subprime mortgage crisis for a good example [/quote]
I see that you are a bit of a cynic, but don't worry, I'll get you up to speed. - The rich guy keeps doing what he did to get rich. It usually continues to payoff. - The poor guy keeps doing what he did to get poor. But he likes to spend as if he is rich and ends up in a world of hurt and teaches his children to do the same. - When the government starts to accuse private lenders of discrimination and urges them to lend to people who have not previously met criteria, you end up with a mortgage crisis.
I grew up in government housing. My mother, however, refused welfare and food stamps, and taught her boys to be responsible. We continue to do what our mother taught us to do. That makes us evil, apparently.
I have pitty on those who are loosing their homes right now. It sucks. But I blame the people who educated them. It reminds me of http://en.wikipedia.org/wiki/The_Moth_(Lost) Luckily I DIDN'T grow up with someone telling me that society was against me, I would never get ahead, and that it was okay to take something you hadn't earned. I would have been another statistic.
Now that we've thrown 'em off the trail, use the form below to get in touch with the people at Engadget. Please fill in all of the required fields because they're required.
Ah well, at least its good to see theres still a lot of money being thrown around despite the economic downturn.
Welcome to the wonderful world known as the financial sector. I see you're a bit of a newbie here, but don't worry, I'll explain the US economy to you in two sentences:
- Rich guy gets richer
- Average Joe and poor Bob get screwed over
Look at the subprime mortgage crisis for a good example
[quote=r3loaded]
- Rich guy gets richer
- Average Joe and poor Bob get screwed over
Look at the subprime mortgage crisis for a good example
[/quote]
I see that you are a bit of a cynic, but don't worry, I'll get you up to speed.
- The rich guy keeps doing what he did to get rich. It usually continues to payoff.
- The poor guy keeps doing what he did to get poor. But he likes to spend as if he is rich and ends up in a world of hurt and teaches his children to do the same.
- When the government starts to accuse private lenders of discrimination and urges them to lend to people who have not previously met criteria, you end up with a mortgage crisis.
I grew up in government housing. My mother, however, refused welfare and food stamps, and taught her boys to be responsible. We continue to do what our mother taught us to do. That makes us evil, apparently.
I have pitty on those who are loosing their homes right now. It sucks. But I blame the people who educated them. It reminds me of http://en.wikipedia.org/wiki/The_Moth_(Lost) Luckily I DIDN'T grow up with someone telling me that society was against me, I would never get ahead, and that it was okay to take something you hadn't earned. I would have been another statistic.
[quote=r3loaded]
- Rich guy gets richer
- Average Joe and poor Bob get screwed over
Look at the subprime mortgage crisis for a good example
[/quote]
I see that you are a bit of a cynic, but don't worry, I'll get you up to speed.
- The rich guy keeps doing what he did to get rich. It usually continues to payoff.
- The poor guy keeps doing what he did to get poor. But he likes to spend as if he is rich and ends up in a world of hurt and teaches his children to do the same.
- When the government starts to accuse private lenders of discrimination and urges them to lend to people who have not previously met criteria, you end up with a mortgage crisis.
I grew up in government housing. My mother, however, refused welfare and food stamps, and taught her boys to be responsible. We continue to do what our mother taught us to do. That makes us evil, apparently.
I have pitty on those who are loosing their homes right now. It sucks. But I blame the people who educated them. It reminds me of http://en.wikipedia.org/wiki/The_Moth_(Lost) Luckily I DIDN'T grow up with someone telling me that society was against me, I would never get ahead, and that it was okay to take something you hadn't earned. I would have been another statistic.