Picture from IMDb
From the Marquette Warrior.
A good read about the sub-prime mortgage problems.
This one part caught my eye.
And as Gary Becker has pointed out:
Some have proposed that families should not be allowed to get mortgages if they do not meet minimum standards of income and assets, even if lenders would be willing to provide mortgages, and would-be borrowers still want a mortgage after being informed of the risks. This proposal is a dangerous form of paternalism that denies the rights of both borrowers and lenders to make their own decisions. Moreover, it is ironic that only a few years ago, banks were being investigated for "redlining"; that is, for avoiding lending to blacks and other residents of poor neighborhoods. And that, of course, was evidence of the evil of American capitalism.
This reminds me of old man Potter in "It's a wonderful life".
George gave the cab driver a loan for a house,
to Mr Martini the restaurant owner for a new house in Baily Park,
and what would Potter do, leave them in his run down rental places.
Who are the Potters of today?
Was Potter the evil guy or should George Baily have gone to work for Potter,
what would of happened!
We and they would be in Potters ville and not Beadford Falls.
Let the free market take care of it self and get the politicians and the lefties out of bank financing.
The market will correct.
To those who got a loan and cannot afford it, let the chips fall.
We don't need to punish everyone just for the few!
Let the borrowers and lenders make their own decisions.
Thank God there are George Baily's out there.
Some people may have the chance to get their own house.
If they cannot afford it , don't give them the loan, if they can make it on their own , go for it.
Remember the American dream!
I know times are tough, but I'd rather live in Baily Park (Berry Lake)
and not Potters ville!
Here's an article that sums up what I was trying to say.
From AlterNet the full article.
It's a Wonderful Life and Sub-Prime 2007
By Vivian Norris de Montaigu . Posted December 25, 2007.
George Bailey's Savings and Mortgage Company was never bought out by by bloated oil producers for 50 cents on the dollar.
Tools EMAIL PRINT 3 COMMENTS
You don't have to be an expert at analyzing films or the economy to figure out that the holiday season favorite, It's a Wonderful Life, has never been so right on. George Bailey does indeed represent the American mortgage company which supplied the money for those who wanted to build and buy their own (modest) homes. Mr. Potter is the greedy banker who laughs and offers 50 cents on the dollar to the citizens of Bedford Falls when there is a run on the bank, and on Bailey's own equivalent of the small town mortgage company.
A good read about the sub-prime mortgage problems.
This one part caught my eye.
And as Gary Becker has pointed out:
Some have proposed that families should not be allowed to get mortgages if they do not meet minimum standards of income and assets, even if lenders would be willing to provide mortgages, and would-be borrowers still want a mortgage after being informed of the risks. This proposal is a dangerous form of paternalism that denies the rights of both borrowers and lenders to make their own decisions. Moreover, it is ironic that only a few years ago, banks were being investigated for "redlining"; that is, for avoiding lending to blacks and other residents of poor neighborhoods. And that, of course, was evidence of the evil of American capitalism.
This reminds me of old man Potter in "It's a wonderful life".
George gave the cab driver a loan for a house,
to Mr Martini the restaurant owner for a new house in Baily Park,
and what would Potter do, leave them in his run down rental places.
Who are the Potters of today?
Was Potter the evil guy or should George Baily have gone to work for Potter,
what would of happened!
We and they would be in Potters ville and not Beadford Falls.
Let the free market take care of it self and get the politicians and the lefties out of bank financing.
The market will correct.
To those who got a loan and cannot afford it, let the chips fall.
We don't need to punish everyone just for the few!
Let the borrowers and lenders make their own decisions.
Thank God there are George Baily's out there.
Some people may have the chance to get their own house.
If they cannot afford it , don't give them the loan, if they can make it on their own , go for it.
Remember the American dream!
I know times are tough, but I'd rather live in Baily Park (Berry Lake)
and not Potters ville!
Here's an article that sums up what I was trying to say.
From AlterNet the full article.
It's a Wonderful Life and Sub-Prime 2007
By Vivian Norris de Montaigu . Posted December 25, 2007.
George Bailey's Savings and Mortgage Company was never bought out by by bloated oil producers for 50 cents on the dollar.
Tools EMAIL PRINT 3 COMMENTS
You don't have to be an expert at analyzing films or the economy to figure out that the holiday season favorite, It's a Wonderful Life, has never been so right on. George Bailey does indeed represent the American mortgage company which supplied the money for those who wanted to build and buy their own (modest) homes. Mr. Potter is the greedy banker who laughs and offers 50 cents on the dollar to the citizens of Bedford Falls when there is a run on the bank, and on Bailey's own equivalent of the small town mortgage company.
No comments:
Post a Comment