Quote:
|
Originally Posted by statdoc
Did you miss my statement? The lending institutions were Federally required to start doing these loans. Can you blame them for trying to figure out a way to make a profit on them? Is profit evil now? I think the companies involved may have been lax, played loose with their rules/regs, etc (no argument from me on that). However, the simple fact that a company is trying to maximize profits for their stockholders is not an evil action. It is what we WANT companies to do.
|
Nope, didn't miss your statement. I feel that greed is the underlying cause because the gov't had something to gain (money or popularity), the lenders were eager to make the loans becuase it created revenue they weren't able to capitalize on before, homebuyers signed up to buy a house that they really couldn't afford or more house then they could afford and so on. It was greed all around. Someone is always benefiting or profiting in one way or another.
I agree that greed can be a very positive thing, but it also has it's downside.