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HELP! I have a credit card debt of 25k hkd which balloons to 350k hkd!

  1. #111
    Mat
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    Quote Originally Posted by cendrillon
    In the end the tax payer got played so the bankers could get bailed out and still pay themselves bonuses. The shareholders got screwed too. The problem is an asymmetry of risk - reward. Perhaps negative bonuses for bad years would help fix this. If bankers put their own personal assets on the line as collateral for mortgage backed securities I bet we'd see a lot less risky lending.
    Bankers...are tax payer.

  2. #112
    Mat
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    Quote Originally Posted by civil_servant
    Fundamentally, if you don't offer 0-down mortgages, people will not get 0-down mortgages. If you're looking at monthly repayments that are equal or less than your rent, one believes it's a good deal. Walking away from a 0-down house, is like walking away from your landlord. The only greedy person here is the banker trying to look for profits and commissions. For the 0-down borrower it's about putting a roof over your head at the best price available. The banker has an education in risk management, not the average 0-down borrower. Hence it's the banker who should've known better. They thought they could play the market, but in the end they got played.
    Sure, the banker is at fault.
    Not the person earning 100 but borrowing 120 - that's a smart move from that person indeed.

  3. #113

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    Quote Originally Posted by Mat
    Sure, the banker is at fault.
    Not the person earning 100 but borrowing 120 - that's a smart move from that person indeed.
    If that person loses their money it's their fault their problem. If millions of these loans are made and it threatens to destabilize the whole economy then it's the bankers fault and society's problem, and the bankers need to be reigned it which they have, for now, at least until their lobby groups get back to work.
    civil_servant and Markx like this.

  4. #114
    Mat
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    Quote Originally Posted by cendrillon
    If that person loses their money it's their fault their problem. If millions of these loans are made and it threatens to destabilize the whole economy then it's the bankers fault and society's problem, and the bankers need to be reigned it which they have, for now, at least until their lobby groups get back to work.
    No - it's way way way way more complex.

    The banker doesn't decide shit - you want to blame, blame all you want:
    - the banker
    - the customer
    - the regulator
    - the trader
    - the property agent
    etc etc...its' a fucking complex issue. It's not bunch of banker who got into a room and said, hey guys, let's fuck with the poor and offer 0 mortgages etc etc...Damn Movies and Medias did really a great job here.

  5. #115
    Mat
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    I know it's a difficult thing to understand for many (thank you the media) but the banker (like the lawyer) is actually:
    - a person
    - often with family and kids
    - someone who worked very hard to get where he is and is, most of the time, under quite a bit of pressure
    - someone who contribute to society (delivering loans, paying taxes etc etc)

    It's not a movie...


  6. #116

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    Quote Originally Posted by Mat
    I know it's a difficult thing to understand for many (thank you the media) but the banker (like the lawyer) is actually:
    - a person
    - often with family and kids
    - someone who worked very hard to get where he is and is, most of the time, under quite a bit of pressure
    - someone who contribute to society (delivering loans, paying taxes etc etc)

    It's not a movie...
    It's painstakingly obvious who's paying your salary.
    Markx likes this.

  7. #117
    Mat
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    Quote Originally Posted by civil_servant
    It's painstakingly obvious who's paying your salary.
    Ah yes, let's go personal, good!

  8. #118

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    Quote Originally Posted by Mat
    Ah yes, let's go personal, good!
    It's bonus season, isn't it?

  9. #119
    Mat
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    Quote Originally Posted by civil_servant
    It's bonus season, isn't it?
    Not at all....
    Clearly don't know banking.

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