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A comment on The bank lent me $2m so I spent it on strippers and cars. Parent comment

Re:The bank lent me $2m so I spent it on strippers and cars by tomp on Thursday December 15, 2016 @10:51AM (#13185369)
Institutions like this that have no sense of financial responsibility are an evil in the world. They lend out millions of dollars of other people's money, declare the debts in default (presumably), and when their actions are deemed imprudent and unprofitable, though not technically illegal, they acts like that's just name-calling and get right back up on his high horse. Remind you of any Wall Street bank?
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Re:The bank lent me $2m so I spent it on strippers and cars by marviel on Thursday December 15, 2016 @11:10AM (#13185567)
Like with most polarized issues, the truth is that both parties were in the wrong in different ways, and the blame, and thus legal action, should lay distributed between the two.
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Re:The bank lent me $2m so I spent it on strippers and cars by restalis on Thursday December 15, 2016 @11:26AM (#13185719)
"both parties were in the wrong in different ways, and the blame, and thus legal action, should lay distributed between the two"

Between these two only the bank, as institution or licensed financial entity, has an obligation to guard the flow of public money. The bank should not hand anyone the responsibility of overdraft limit management. The individual can be assumed incompetent and just be absolved of any responsibility solely based on that.

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Re:The bank lent me $2m so I spent it on strippers and cars by raesene6 on Thursday December 15, 2016 @11:36AM (#13185808)
Except that's not what appears to have happened here. I didn't see any suggestion in the article that the bank knowingly lent out the money, most likely a human error or bug in one of their systems caused his account to have this line of credit applied to it.

If they had pushed him to take a reckless loan, I'd agree with you that they shared liability here, but this was (from what I've read) just him taking advantage of a mistake by the bank.

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Re:The bank lent me $2m so I spent it on strippers and cars by mempko on Thursday December 15, 2016 @11:56AM (#13186007)
> They lend out millions of dollars of other people's money

Banks don't lend other people's money. They create money when they lend. Read this from the Bank of England. http://www.bankofengland.co.uk/publications/Documents/quarte...

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