Why Canada Can Avoid Banking Crises and U.S. Can’t

[giblets]

Never specified black. #youmightbearacist

So this has nothing to do with redlining? Ok. Then I have no idea why you were saying "the bankers were right" in response to Dinner bringing up redlining.

[Sava]

I have no idea why you were saying "the bankers were right"

lord satan commands him to do so

[Ben Kenobi]

So this has nothing to do with redlining?

Redlining looks at certain things - income and assets.

Is it racist to refuse a mortgage to someone for being poor?

[giblets]

lolol it's like you didn't even read the block of text Dinner copied and pasted. You have no idea what "redlining" means. It has nothing to do with taking into account the amount of income an individual has.

[Jon Miller]

Still doesn't change the fact that loaning to already risky pools isn't exactly a great loan decision. When those loans start to crater, so do the lenders. Had they simply maintained adequate standards of down payments (remember those), and income levels, then none of this would have happened.

In a downturn like what happened even people who made >100k with mortgages of <300k ended up going bankrupt/etc.

Or are you saying that was a bad lending decision?

JM

[Ben Kenobi]

Or are you saying that was a bad lending decision?

Didn't I just say that?!

Still doesn't change the fact that loaning to already risky pools isn't exactly a great loan decision. When those loans start to crater, so do the lenders. Had they simply maintained adequate standards of down payments (remember those), and income levels, then none of this would have happened.

[Ben Kenobi]

read the block of text Dinner copied and pasted.

Can't imagine why I would do something like that.

[Jon Miller]

What is the point of a mortgage if you have the money already?

JM

[Jon Miller]

What is the point of a mortgage if you have the money already?

JM

[Ben Kenobi]

What is the point of a mortgage if you have the money already?

For the lender to make money?

[Jon Miller]

They won't make money if they will only lend to people who don't need to borrow money.

JM

[Jon Miller]

They won't make money if they will only lend to people who don't need to borrow money.

JM

[Ben Kenobi]

They won't make money if they will only lend to people who don't need to borrow money.

Oh, no? Sure they will. Those are the best clients. Ones with actual money.

[MRT144]

Oh, no? Sure they will. Those are the best clients. Ones with actual money.

No wonder you teach retards.

[Sava]

thats racist