This is nothing more than loan sharking. Knowing and petitioning a potential customer to borrow money while the provider is aware the loan can never be repaid.
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Thursday, October 7, 2010
The crash
In a way similar to how the world bank, its governing countries and corporate clients operate, Americans were convinced by the american dream, that owning a home was a sure equity cushion, a guaranteed source of ever increasing income and growth for the common man. Well maybe if we had treated our homes like corporate property and protected ourselves from any fault, but we didn't. The equity was never real but we believed enough to borrow against it and live well, much as so many third world countries believed when offered the same projections by like minded bankers.
This is nothing more than loan sharking. Knowing and petitioning a potential customer to borrow money while the provider is aware the loan can never be repaid.
This is nothing more than loan sharking. Knowing and petitioning a potential customer to borrow money while the provider is aware the loan can never be repaid.
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