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Old 11-12-2008, 04:09 PM
BlueAngel BlueAngel is offline
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Join Date: May 2007
Posts: 10,799
Default Re: PALIN as Vice President

I just watched a bit of a Wolf Blitzter interview with Sarah Palin.

Sarah Palin believes that the state of the economy is the fault of the American people because they accepted loans for homes that they couldn't afford.

Apparently, Mrs. Palin doesn't understand that it is the repsonsibility of the banks who lend money to prospective homeowners to make sure that the homeowner's can afford the house which they desire to purchase SO THE BANK'S will receive repayment of their loan plus INTEREST, as well.

THESE PEOPLE make a fortune on INTEREST.

It is the name of the game.

They make a fortune in interest when they extend credit to anyone and everyone.

There are certain steps that banks must go through and one step is called the loan to value ratio, which determines the amount of money that is required as a down payment.

Salary is checked against debts, etc.

I'm sure most of us understand the lending guidelines.

If you can't afford it, the bank shouldn't lend it.

It is also the responsibility of banks NOT to deliberately INFLATE the value of homes that truly aren't worth what the bank's appraisal determines so they can provide second mortgages to homeowners and reap more reward through interest payments.

Palin actually believes that the government is bailing out the American people and not the banks who caused their own failure on purpose, I might add, in order to create an even worse economic situation for everyone.
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