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Originally Posted by PStarks
While I would normally agree 110% with everything you just said... The real issue is the banks NEVER lose. If they gambled on a bum mortgage and lost the Fed just bails them out. The problem is they have stacked the deck to the point where even if they lose they can either get the debt washed or just borrow more from the fed at 0%. At the end of the day... FUCK THEM 
If you or I run business into the ground we need to suck it up and move on... if you are a bank you get a do over... so much for personally responsibility right? I do not see why a person is expected to be a perfect little bitch while the bank is pissing in their face and calling it rain. Sure there are websites for that sort of shit and few awesome affil programs, but double standards are bullshit and you know it. |
The difference is if you and me fell of the face of the earth no one would miss us. If the banks folded the entire US economy would collapse. Besides the fact of how banks are used to cash checks, back credit cards, and allow people to make payments easily. In the case of mortgages they allow people to own homes. Without banks, 99% of the country would be renters. Home owners and everything that goes along with it is vital to our economy.
Therefore you asked, why is there a double standard? Out of necessity. Banks (at least the bigger ones who represent the majority of home loans) can not be allowed to fail. Do I think it sucks that me as a tax payer has to bail them out. Sure. My gripe isn't that the "big bad bank" was bailed out, I understand the importance of banks and that we need them. I just wish the assholes in charge that got us in trouble were held responsible and charged criminally. The bank, as an institution is not bad, just some of the people running them were.
And "banks" do lose. It's not uncommon for smaller banks to close down. Banks also lose in most cases with foreclosures. But at the end of the day, you right the big ones that are important will be bailed out for the mistakes of the people who were running them.
Now that is a gripe for you and me to be mad about, we played by the rules and still had to pay for everyone else fucking up. Banks getting bailed out is not justification for someone that got more house then they could afford and in over their head, lost the house and got mad and gutted it because they were blaming the bank for their problems. The buck stops with them.