Re:This is what happens when you lend money to poor people
by jey on Thursday September 06, 2007 @03:12AM
(#50992)
> By poor, I mean anyone who the SEC wouldn't allow to invest in my hedge fund
This dipshit classifies everyone who doesn't qualify to be an Accredited investor as poor? Wow.
He also thinks its the poor people's fault for taking sweet deals that were offered to them? If you look at it from an economic perspective, all they had to lose was the property on which they took out the loan and a bad credit rating, but their credit rating sucked already anyway. (Granted, this may have emotional consequences as they foreclose and have to move out, but that doesn't really impact the economics of it.) In contrast, the lenders are losing their investment! Isn't it the responsibility of the lenders to invest in, uhm, sensible investments?
OK, I should stop bitching about this troll's obvious flamebait.
[EDIT: after reading the rest of the piece, I see that this is satire. he sure got my blood boiling as I read it.]
This dipshit classifies everyone who doesn't qualify to be an Accredited investor as poor? Wow.
He also thinks its the poor people's fault for taking sweet deals that were offered to them? If you look at it from an economic perspective, all they had to lose was the property on which they took out the loan and a bad credit rating, but their credit rating sucked already anyway. (Granted, this may have emotional consequences as they foreclose and have to move out, but that doesn't really impact the economics of it.) In contrast, the lenders are losing their investment! Isn't it the responsibility of the lenders to invest in, uhm, sensible investments?
OK, I should stop bitching about this troll's obvious flamebait.
[EDIT: after reading the rest of the piece, I see that this is satire. he sure got my blood boiling as I read it.]