Chris_Sleeps Posted April 25, 2012 Share Posted April 25, 2012 If they hadn't borrowed money to fuel an unaffordable life style there wouldn't have been a boom Why is this hypothetical lifestyle "unaffordable"? I only ask because my parents have a mortgage, and my girlfriend has a car on finance. I went to university. I'm just wondering why we're ultimately responsible for everything. ( Ps, you don't have to assume. When you make a statement, and I ask why, that normally means "why?". ) Link to comment Share on other sites More sharing options...
green Posted April 25, 2012 Share Posted April 25, 2012 I assume your question is why blame the people that borrowed the money. Answer If they hadn't borrowed money to fuel an unaffordable life style there wouldn't have been a boom and the resulting bust that always follows a boom wouldn't have been necessary. I think youll find it was businesses that predominately loaned the monies. You know like those venture capitalists, at Punch, or Enterprise, EMI, Woolworths, Rangers FC, the list is endless. You see big bonuses are made on these deals. Whether they are solid or not... Link to comment Share on other sites More sharing options...
MrSmith Posted April 25, 2012 Share Posted April 25, 2012 I think youll find it was businesses that predominately loaned the monies. You know like those venture capitalists, at Punch, or Enterprise, EMI, Woolworths, Rangers FC, the list is endless. You see big bonuses are made on these deals. Whether they are solid or not... Did I say it wasn't businesses. Link to comment Share on other sites More sharing options...
MrSmith Posted April 25, 2012 Share Posted April 25, 2012 Why is this hypothetical lifestyle "unaffordable"? I only ask because my parents have a mortgage, and my girlfriend has a car on finance. I went to university. I'm just wondering why we're ultimately responsible for everything. ( Ps, you don't have to assume. When you make a statement, and I ask why, that normally means "why?". ) Did the bank’s lending them money cause the crash, or was it money lent to someone else that caused it. The bust is the consequence of a boom, it always happens and always will unless we eliminate boom. And people caused the boom, banks and businesses just respond to what the people want. Link to comment Share on other sites More sharing options...
rickiethecat Posted April 25, 2012 Share Posted April 25, 2012 Capitalism is fine when you're on the winning side, but pretty **** when you're not. Capitalism is largely responsible for the high living standards that you and the rest of us in Sheffield enjoy. Without capitalism there would be no NHS, no free education, no benefits system, no council services, etc. Everything has a cost! Just because you're desperately jealous that some people have more money than you does not mean capitalism doesn't work. Link to comment Share on other sites More sharing options...
redruby Posted April 25, 2012 Share Posted April 25, 2012 Did the bank’s lending them money cause the crash, or was it money lent to someone else that caused it. The bust is the consequence of a boom, it always happens and always will unless we eliminate boom. And people caused the boom, banks and businesses just respond to what the people want. And did the banks not wave a carrot in front of their noses? On personal level I recall being sent endless offers of pre-approved loans and credit cards I never asked for. Whilst that's no certainly no EXCUSE to borrow unwisely the the outcome can hardly be a surprise and it's very misleadling to suggest that banks were simply responding to what people wanted. Link to comment Share on other sites More sharing options...
rickiethecat Posted April 25, 2012 Share Posted April 25, 2012 And did the banks not wave a carrot in front of their noses? On personal level I recall being sent endless offers of pre-approved loans and credit cards I never asked for. Whilst that's no certainly no EXCUSE to borrow unwisely the the outcome can hardly be a surprise and it's very misleadling to suggest that banks were simply responding to what people wanted. Businesses advertising their services to their customers? HOW DARE THEY! Link to comment Share on other sites More sharing options...
green Posted April 25, 2012 Share Posted April 25, 2012 I assume your question is why blame the people that borrowed the money. Answer If they hadn't borrowed money to fuel an unaffordable life style there wouldn't have been a boom and the resulting bust that always follows a boom wouldn't have been necessary. Did I say it wasn't businesses. Did the bank’s lending them money cause the crash, or was it money lent to someone else that caused it. The bust is the consequence of a boom, it always happens and always will unless we eliminate boom. And people caused the boom, banks and businesses just respond to what the people want. The banks clearly borrowed huge sums of monies to companies whom were not so solvent. You did say people. The issue is banks. Link to comment Share on other sites More sharing options...
green Posted April 25, 2012 Share Posted April 25, 2012 We are paying the price for big business & the financial industries problems. Its as simple as that. Link to comment Share on other sites More sharing options...
MrSmith Posted April 25, 2012 Share Posted April 25, 2012 And did the banks not wave a carrot in front of their noses? On personal level I recall being sent endless offers of pre-approved loans and credit cards I never asked for. Whilst that's no certainly no EXCUSE to borrow unwisely the the outcome can hardly be a surprise and it's very misleadling to suggest that banks were simply responding to what people wanted. There’s plenty of stuff out there dangled in front of peoples nose, the trick is to ignore them if you can't afford them. Why blame the banks, you may as well blame every business that supplies stuff you can’t afford. Link to comment Share on other sites More sharing options...
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